What Budget rumours are doing to the FTSE 100

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"Banking stocks gave the FTSE 100 a lift on Tuesday amid rumours that the sector will be spared a tax hit in Chancellor Rachel Reeves' budget. The FTSE 100 index closed up 74.62 points, 0.8 per cent, at 9,609.53. The FTSE 250 ended up 205.83 points, 1.0 per cent, at 21,617.41, and the AIM All-Share closed up 4.93 points, 0.7 per cent, at 742.09. High street lenders Lloyds Banking Group rose 3.8 per cent, NatWest Group climbed 3.7 per cent"

The Independent sends reporters across issues including reproductive rights, climate change and Big Tech, investigating topics such as Elon Musk's pro‑Trump PAC and producing documentaries like 'The A Word' about American women fighting for reproductive rights. The publication is funded by donations to maintain paywall-free reporting and aims to present both sides of stories to a broad political audience. UK banking stocks lifted the FTSE 100 after reports suggested Chancellor Rachel Reeves is unlikely to impose further tax hikes on banks. The budget is expected to include significant tax measures to address the fiscal deficit, including a continued freeze on personal allowances, a mansion tax and higher betting duties.

Read at www.independent.co.uk