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FTSE 100 up 0.2%, FTSE 250 gain 0.1%

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Industrial metal miners rise tracking higher copper prices

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Investors expect tax hikes in budget

Nov 25 (Reuters) - UK stocks edged higher in choppy

trading on Tuesday as investors awaited a highly anticipated

budget this week which is expected to include significant tax

measures, while key U.S. economic data was also in focus.

The blue-chip FTSE 100 edged higher 0.2% as of 10:50

GMT, while the FTSE 250 index of domestically oriented UK firms

rose 0.1%.

Among sectors, non-life insurers fell 3.3%

after speciality insurer Beazley plunged 9.4% after the

company cut its annual insurance written premiums forecast.

The travel and leisure sector lost 1% with

cruise operator Carnival falling 5.5%.

Banks gained 0.3% after a Goldman Sachs note

referred to a Financial Times article that the sector would be

spared from taxes. Lloyds Banking ( LYG ) rose 1.8%, Barclays ( BCS )

added 1.1% and NatWest Group ( NWG ) climbed 1.4%.

Industrial metal miners gained the most,

rising 1.1%, after copper and iron ore prices

increased. Antofagasta ( ANFGF ) rose 2.7%, while Anglo American

added 2.2%.

Personal goods added 1.1% with Burberry ( BBRYF )

up 1.6%.

Retailers added 1%, with Kingfisher

climbing 4.7% after the home improvement retailer raised

its annual profit forecast.

Among other moves, food catering firm Compass Group ( CMPGF )

shares fell 2.7% after the company forecast profit growth and

organic revenue growth for 2026 roughly in line with

expectations.

Domino's Pizza Group lost 3.6% after CEO Andrew

Rennie stepped down, marking another senior departure as the

company shifts strategy to tackle weak sales and rising costs.

AO World rose 5.9% after the company raised its

annual profit forecast for the second time in three months.

Investors are awaiting Wednesday's UK budget announcement

from Finance Minister Rachel Reeves, following mixed signals on

potential tax hikes.

The government now appears unlikely to raise income tax but

is expected to target increases in several other levies.

Markets also await the release of a producer inflation

report and retail sales figures in the U.S., among the first

major datasets to be released following the longest-ever

government shutdown.