Stocks have risen since the UK budget

There was a surprisingly limited impact on the UK budget FTSE Today’s index. However, there were many announcements that removed individual stocks. The FTSE 100 The index moved slightly down by 0.3%. The FTSE 250 The index was up 0.1%, but there was something significant about it.

One day for FTSE 250 stock

First, the FTSE 250 is above 23,000 for the second day in a row today. It was below this level for the whole of October. The UK budget certainly did nothing to disappoint investors. In fact, if anything, it probably confirmed that it was exuberant.

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The FTSE 250 index is a better representative of the UK economy than the FTSE 100. This is because most of its companies cater to the UK market. There are many large multinational companies in the FTSE 100 index whose share prices are influenced by many factors outside the UK.

Pub stock assembly after budget

It’s a little surprising that some of the biggest FTSE 250 gainers after today’s budget were pub stocks Mitchells and Butler And JD Weatherspun. They saw price increases of 5.7% and 5.3%, respectively. This was probably driven by the announced reduction in alcohol tariffs. These will apply to some wines and ciders where there is a relatively low alcohol content. This is very important news for these stocks. They are facing a set of challenges, including lockouts, value added tax returns and labor shortages.

Boost transport

FTSE 250 transport operator The first group, One of whose affiliates is the Great Western Railway, is today another major beneficiary. Its stock price rose 4.5% as the budget announced additional funding for transportation. About bn 46bn is now to be spent on railways and an integrated rail plan will also be announced soon which is expected to reduce travel time across the country. Like many pubs, the transportation sector has been hardest hit by the epidemic, and any encouragement to do so is good news.

FTSE 100 property developers have grown

Of the FTSE 100 stocks, the largest rally was seen among property stocks. Taylor Wimpe The biggest increase was by 2.7%. Persimmon, Barrett Developments, And Berkeley Group Holdings At the end of today, their share price has risen more than 1%. The budget states that Brownfield lands will be used to invest in new homes and more will be spent on the affordable homes program. Also, interestingly, there has been no talk of higher taxes on this sector, which could be the case considering the skyrocketing house prices in the UK.

Gains utility

Another set of FTSE 100 beneficiaries includes such utilities SSE, On the national grid, And United Utilities. The biggest gain has been seen for SSE, which is also a large renewable energy company in the UK. The budget mentions large investments in greening the economy.

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Manika Premsing owns shares of Persimmon. The Motley Flower UK has recommended a national grid. Opinions about the companies mentioned in this article may differ from those of the author and therefore our official recommendations for subscription services such as Share Advisor, Hidden Winner and Pro. Here at The Motley Fool we believe that considering different range of insights makes us a better investor.

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