On Wednesday, London’s FTSE 100 index experienced a slight decline following two consecutive sessions of record high closures, primarily influenced by losses in the industrials and energy sectors. The blue-chip index was down 0.1% at 9,886 points as of 1214, yet it remains close to record levels and within reach of the 10,000 mark. The mid-cap index FTSE 250 gained 0.1%. Earlier this week, market sentiment showed signs of improvement amid optimism regarding a potential resolution to the U.S. government shutdown. Market participants are increasingly anticipating that the U.S. House of Representatives may soon cast a vote to terminate the shutdown that has halted essential economic data releases. This resolution is expected to enhance the transparency surrounding the Federal Reserve’s forthcoming interest rate determinations.

In UK markets, industrial shares declined by 1.3%, with credit data specialist Experian dropping 3.1% despite forecasting full-year revenue growth of 11%, the upper end of its outlook range. Pharmaceutical giant AstraZeneca was down 0.5%, retreating from the record high achieved in the previous session. The broader pharmaceutical and biotechnology sector slipped 0.6%. Energy shares weakened as oil prices dipped following Tuesday’s surge, with oil majors BP and Shell falling 0.8% and 0.3%, respectively. Homebuilders declined 1.8%.

Taylor Wimpey’s shares fell nearly 4% after reporting a softer autumn selling season as British buyers hesitated ahead of the budget announcement. Conversely, personal goods led the gainers, rising 3.2%. Utilities advanced 2.4% as SSE surged 12.3% to a record high after unveiling a 33 billion pounds ($44.29 billion) five-year investment plan to upgrade the UK’s regulated electricity networks and expand its renewable business. As we look forward, market participants are anticipating the release of Thursday’s preliminary UK GDP figures for the third quarter. These figures are expected to provide essential insights into the economic health of the nation prior to the government’s budget announcement later this month.

SoftBank experienced a decline of up to 10% in Tokyo trading earlier, following its divestment of a $5.8 billion stake in Nvidia to support its substantial investment in OpenAI. Among other stocks, Smithson Investment rose 6.7% after announcing plans to convert its assets into an open-ended fund, while Avon Technologies jumped 8.3% to a five-year high following an upbeat fiscal year outlook.