The FTSE 100 slipped 0.3% on Thursday, 27 November 2025, as losses in consumer staples and energy stocks weighed on the index. Meanwhile, the domestically focused FTSE 250 inched higher by 0.1%, reflecting a mixed tone in the UK equity market.

The decline in FTSE 100 follows Finance Minister Rachel Reeves’ budget announcement, which raised taxes and doubled the fiscal margin to meet Britain’s fiscal targets, exceeding market expectations even as welfare spending rises.

Key Movers in FTSE 100

Consumer-related stocks were under pressure, with Unilever (ULVR.L) down 0.7% and British American Tobacco (BATS.L) falling 1.2%. Luxury goods company Burberry (BRBY.L) also lost 1.7%, reflecting broader weakness in personal goods stocks.

Industrial miners struggled as well, with Anglo American (AAL.L) and Rio Tinto (RIO.L) both falling more than 1.5%. Energy stocks followed the downward trend, declining 0.9%, as oil prices softened on expectations of a potential Ukraine-Russia ceasefire. BP (BP.L) dropped 1.2% amid the sector weakness.

On the upside, precious metal miners advanced 0.7%, with Endeavour Mining (EDV.L) rising 1.2%. Homebuilders rebounded 0.9% after declines in the previous session, helped by tax measures on high-value properties introduced in the budget.

Notable Stock Moves

• Debenhams (DEBS.L) surged 44.4% following an upbeat profit forecast, making it the top performer in the session.
• Unite Group (UTG.L) fell 4.4% to a more than 10-year low after warning of lower earnings in 2026.
• British gambling stocks were volatile: Evoke (EVOK.L) lost 7% and Rank Group (RNK.L) declined 9.5%, reversing gains from Wednesday, amid concerns that planned tax hikes on online gaming will affect profits. In contrast, Playtech (PTEC.L) rose 8.4% despite noting a potential impact of millions of euros.

Other ex-dividend trading impacted shares such as Severn Trent (SVT.L) and 3i Group (III.L), which declined as a result.

Market Context

Global markets were quieter due to the U.S. Thanksgiving holiday, with U.S. stocks having ended higher on Wednesday as the Dow Jones and S&P 500 gained over 0.6%. Investors in the UK are digesting the implications of Reeves’ tax-raising budget, which has been broadly welcomed by institutional investors but has raised concerns that future economic growth may struggle to offset upcoming tax increases.

Analysts note that while the budget provides a firmer fiscal footing, sectors such as energy, consumer staples, and online gambling are particularly sensitive to policy changes and global developments, which may continue to influence FTSE performance in the near term.