The UK budget, inflation and what is in store for markets
Published . Updated .
Key takeaways
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Jenson Holmes, from Titan Wealth, offers this week’s round-up of global markets CHANCELLOR John Healey’s first budget, announced last Wednesday, was far from memorable. Most of the giveaways – such as removing standing charges on utility bills, freezing fuel duty and delaying
Directly affected
- No company is named in this report.
Indirectly affected
- XLU Utilities Select Sector SPDR+3.0% 30d
Utilities Select Sector SPDR: it holds power utilities. Linked by “utility” (power and utilities) in this story.
- EWU iShares MSCI United Kingdom ETF-1.3% 30d
iShares MSCI United Kingdom ETF holds stocks listed in the UK, which this story is about (“uk”).
- BWX SPDR Bloomberg International Treasury Bond ETF
SPDR Bloomberg International Treasury Bond ETF holds government bonds outside the US, which react to inflation and interest-rate news like this one in the UK
- EFA iShares MSCI EAFE ETF-1.5% 9d
iShares MSCI EAFE ETF is a broad fund of developed-market stocks that includes the UK
- NEE NextEra Energy+10.5% 30d
NextEra Energy (electric services): power demand and prices drive utility earnings. Linked by “utility” (power and utilities) in this story.
- DUK Duke Energy+7.5% 30d
Duke Energy (electric and other services combined): power demand and prices drive utility earnings. Linked by “utility” (power and utilities) in this story.
- SO The Southern+9.7% 30d
The Southern (electric services): power demand and prices drive utility earnings. Linked by “utility” (power and utilities) in this story.
- NGG National Grid+0.2% 16d
National Grid (natural gas transmission, with business in the UK): power demand and prices drive utility earnings. Linked by “utility” (power and utilities) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| XLU | -2.14% | +0.05% | base | after close | after close | after close | after close |
| EWU | +0.04% | +1.10% | base | after close | after close | after close | after close |
| BWX | +0.16% | +0.49% | base | after close | after close | after close | after close |
| EFA | +0.59% | +0.25% | base | after close | after close | after close | after close |
| NEE | -3.87% | -0.66% | base | after close | after close | after close | after close |
| DUK | -2.27% | +0.74% | base | after close | after close | after close | after close |
| SO | -2.34% | -0.06% | base | after close | after close | after close | after close |
| NGG | -0.74% | +1.33% | base | after close | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
The UK budget, inflation and what is in store for markets Jersey Evening Post
Source: Jersey Evening Post
The price since 4 Nov 2026: Ishares Tr (EWU) versus the S&P 500
| Company | When | Move | Status |
|---|---|---|---|
| Spdr Series Trust (BWX) | three days earlier | +0.49% | final price |
| Spdr Series Trust (BWX) | five days earlier | +0.16% | final price |
| DUK | three days earlier | +0.74% | final price |
| DUK | five days earlier | -2.27% | final price |
| Ishares Tr (EFA) | three days earlier | +0.25% | final price |
| Ishares Tr (EFA) | five days earlier | +0.59% | final price |
| Ishares Tr (EWU) | three days earlier | +1.10% | final price |
| Ishares Tr (EWU) | five days earlier | +0.04% | final price |
| NEE | three days earlier | -0.66% | final price |
| NEE | five days earlier | -3.87% | final price |
| NGG | three days earlier | +1.33% | final price |
| NGG | five days earlier | -0.74% | final price |
| SO | three days earlier | -0.06% | final price |
| SO | five days earlier | -2.34% | final price |
| XLU | three days earlier | +0.05% | final price |
| XLU | five days earlier | -2.14% | final price |
Trades by members of Congress and officials in the stocks in this story
- Sen. John Boozman sold Ishares Tr (EFA) (jointly held), worth $1,001 - $15,000 on 9 Sep 2026. That is 56 days before publication. Filed 21 Oct 2026. View the filing.
- Rep. Kevin Hern sold Nextera Energy (NEE) (jointly held), worth $15,001 - $50,000 on 2 Oct 2026. That is 33 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Kevin Hern sold Nextera Energy (NEE) (jointly held), worth $15,001 - $50,000 on 14 Sep 2026. That is 51 days before publication. Filed 25 Sep 2026. View the filing.
- Rep. Kevin Hern sold Nextera Energy (NEE) (jointly held), worth $1,001 - $15,000 on 2 Sep 2026. That is 63 days before publication. Filed 25 Sep 2026. View the filing.
- Rep. Rohit Khanna bought Duke Energy (DUK) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 40 days before publication. Filed 7 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, sold Duke Energy (DUK), worth $1,001 - $15,000 on 24 Aug 2026. That is 72 days before publication. Filed 8 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, sold Southern (SO), worth $250,001 - $500,000 on 21 Aug 2026. That is 75 days before publication. Filed 8 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Southern (SO), worth $1,001 - $15,000 on 10 Aug 2026. That is 86 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Rohit Khanna sold Linde (LIN) (held by a spouse), worth $15,001 - $50,000 on 25 Sep 2026. That is 40 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Kevin Hern sold Linde (LIN) (jointly held), worth $15,001 - $50,000 on 17 Sep 2026. That is 48 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Linde (LIN) (held by a spouse), worth $1,001 - $15,000 on 4 Sep 2026. That is 61 days before publication. Filed 7 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Ishares Tr (EWU)
Companies carried with this story
- EWU Ishares Tr
In “The UK budget, inflation and what is in store for markets,” Ishares Tr (EWU) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI United Kingdom ETF holds stocks listed in the UK, which this story is about (“uk”)
- BWX Spdr Series Trust
In “The UK budget, inflation and what is in store for markets,” Spdr Series Trust (BWX) is linked, with no stored direction, medium confidence. Reason on file: SPDR Bloomberg International Treasury Bond ETF holds government bonds outside the US, which react to inflation and interest-rate news like this one in the UK
- EFA Ishares Tr
In “The UK budget, inflation and what is in store for markets,” Ishares Tr (EFA) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI EAFE ETF is a broad fund of developed-market stocks that includes the UK
- HSBC Hsbc Holdings
For “The UK budget, inflation and what is in store for markets,” Hsbc Holdings (HSBC) is linked, with no stored direction, medium confidence. Reason on file: HSBC Holdings (savings institution, federally chartered) is one of the largest the UK-based companies traded in the US, so news about the UK (“uk”) reaches its shares
- LIN Linde
Linde (LIN) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “The UK budget, inflation and what is in store for markets.” Reason on file: Linde (industrial inorganic chemicals) is one of the largest the UK-based companies traded in the US, so news about the UK (“uk”) reaches its shares
- ARM Arm Holdings
In “The UK budget, inflation and what is in store for markets,” Arm Holdings (ARM) is linked, with no stored direction, medium confidence. Reason on file: Arm Holdings (semiconductors and related devices) is one of the largest the UK-based companies traded in the US, so news about the UK (“uk”) reaches its shares
- RIO Rio Tinto
For “The UK budget, inflation and what is in store for markets,” Rio Tinto (RIO) is linked, with no stored direction, medium confidence. Reason on file: Rio Tinto Group (metal mining) is one of the largest the UK-based companies traded in the US, so news about the UK (“uk”) reaches its shares
How “The UK budget, inflation and what is in store for markets” reaches Ishares Tr (EWU)
The 4 Nov 2026 story “The UK budget, inflation and what is in store for markets” names Ishares Tr (EWU) because of this story.
The link for Ishares Tr (EWU) is this: iShares MSCI United Kingdom ETF holds stocks listed in the UK, which this story is about (“uk”)
Also listed, Spdr Series Trust (BWX): SPDR Bloomberg International Treasury Bond ETF holds government bonds outside the US, which react to inflation and interest-rate news like this one in the UK
The price range for Ishares Tr (EWU), and the dates in the story
EFA traded between 102.00 and 104.68 across 6 sessions. The latest close on file is 103.46. EWU traded between 45.65 and 47.88 across 17 sessions. The latest close on file is 46.84.
What the saved facts support for Ishares Tr (EWU)
46 out of 100
“The UK budget, inflation and what is in store for markets” scores 46 out of 100. The score uses 1 sources, and 7 linked companies.