Walker Crips' Market Commentary

The Bank of England raised the base interest rate by 0.25% to 4% on Thursday, its first increase since August 2023, with Consumer Price Index ("CPI") inflation at 3.5% for the year to September from 3.1% in August and the Bank expecting it to reach around 5% in the second quarter of 2027 as the energy shock feeds through. Governor Andrew Bailey said a further increase could come as early as December, with the minutes pointing the same way. Households were already under strain: the Lloyds house price index fell 1.2% in the year to October, its steepest annual fall in three years, and British Retail Consortium data showed retail footfall down 4.7% over the same period, providing an indication of consumer sentiment...Stocks featured:Endeavour Mining, Fresnillo and Ithaca EnergyTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Chancellor John Healey's first Budget last Wednesday raised taxes while keeping the planned current budget surplus by 2030, and it did not trigger the gilt market sell-off some investors had feared, with the 10-year UK gilt yield easing to 5.28% from 5.36%. The bank corporation tax surcharge was temporarily doubled to 6%, and £20.4 billion was committed to the National Wealth Fund and the British Business Bank. Gas standing charges are to be scrapped for around 23 million households from 2027. Data released in Nationwide’s latest House Price Index showed annual house price growth slowing to 0.5% for the year to October from 0.8% in September, which the mortgage lender attributed to higher energy prices and mortgage costs...Stocks featured:AstraZeneca, Babcock International and HaleonTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

UK inflation accelerated to 3.5% in the year to September from 3.1% in August, its fastest pace since October 2025 and above the 3.4% consensus, driven by transport and motor fuels. Producer input price inflation reached 8.3% from 6.7% in August, with crude oil the largest contributor, pointing to cost pressure still in the pipeline. Unemployment fell to 4.7% in the three months to August from 4.9%, giving the Bank of England little reason to ease before its next base interest rate decision next month. Public sector net borrowing of £24.52 billion in September left the year-to-date figure £6 billion above the Office for Budget Responsibility forecast, ahead of the UK Budget tomorrow, 28th October...Stocks featured:Experian, Fresnillo and London Stock Exchange GroupTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Navigating the upcoming budget: Key takeaways for investorsJoin Walker Crips Investment's Senior Investment Analyst Alan Philip and Investment Director James Richards as they break down potential policy shifts and what the latest budget announcements could mean for your investments.To find out more about investing with Walker Crips, please click here to request a call back.Important informationThis podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment.Presenters and contributors to this podcast may hold personal positions in securities, assets, or themes discussed. These views are entirely their own and should not be interpreted as a recommendation to buy or sell any financial instrument.Nothing in this podcast constitutes advice to undertake a transaction and if you require professional advice, you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The UK economy grew 0.1% in August from July, against expectations of a 0.1% decline, with production up 0.8%, services flat and construction down 0.2%, leaving the month's Gross Domestic Product ("GDP") growth resting on one sector. The trade deficit narrowed to £920 million from £2.32 billion in July. Consumer evidence was softer, with the British Retail Consortium reporting retail sales up 1.3% in September on an annual basis, slowing from 2.3% a year earlier as households braced for higher bills and taxes. Ahead of the budget on 28th October, the Institute for Fiscal Studies said higher inflation would erode departmental spending power. The 10-year gilt yield fell 7 basis points to 5.37%...Stocks featured:Antofagasta, Autotrader Group and JD Sports FashionTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.