FTSE 100 Falls Amid Energy Sector Slump and Investor Anticipation Ahead of UK Budget

The UK's FTSE 100 index fell 0.8% due to declines in the energy sector, notably impacted by BP's 30% drop in profit. As investors focus on the upcoming budget from finance minister Rachel Reeves, HSBC and Pearson report positive gains while the aerospace sector faces setbacks.

The UK's FTSE 100 experienced a decline of 0.8% on Tuesday, largely driven by downturns in the energy sector, with BP's shares dropping 5% due to a significant profit decrease.

HSBC Holdings reported increases in third-quarter profit, enhancing the banking sector, while losses in the aerospace sector were noted with Rolls-Royce's shares dropping.

Attention now turns to finance minister Rachel Reeves' upcoming budget, expected to address fiscal challenges while British mortgage approvals rose in September, signaling economic resilience amidst market complexities.

(With inputs from agencies.)