<div id="readability-page-1"><div>(Alliance News) - Stock prices in London opened lower on Friday, with the FTSE 100 slipping as investor sentiment weakened due to renewed UK fiscal concerns and amid a global sell-off.The FTSE 100 index opened down 108.13 points, 1.1%, at 9,699.55. The FTSE 250 was down 250.02 points, 1.1%, at 21,745.49, and the AIM All-Share was down 6.69 points, 0.9%, at 748.77.The Cboe UK 100 was down 1.1% at 968.51, the Cboe UK 250 was down 1.3% at 18,833.13, and the Cboe Small Companies was down 1.0% at 17,660.89.Richard Hunter, head of markets at interactive investor, said: &#34;The FTSE 100 was unable to dodge the bullets of receding investor optimism and added to its own losses from yesterday with a languid opening. &#34;The previous outperformers of the rally such as the banks and the miners led the declines, with the housebuilders not far behind given the lack of buying activity which has become very evident in recent weeks ahead of what could be a punishing budget.&#34;Adding to the pressure, concerns around the UK fiscal outlook intensified after reports suggested the chancellor has abandoned plans to break Labour's manifesto pledge and raise income tax at this month's budget.According to the Financial Times, Rachel Reeves has decided to drop the planned tax rise amid fears it would anger voters and Labour backbenchers. The chancellor had been expected to pursue an income tax increase to help close a significant gap in her spending plans, warning earlier this week that the alternative would be &#34;deep cuts&#34; to public investment.The FT reported that Reeves informed the Office for Budget Responsibility on Wednesday of the &#34;major measures&#34; to be included in the November 26 budget. One option being considered is reducing income tax thresholds rather than raising tax rates, which could still raise billions for the Treasury.In European equities on Friday, the CAC 40 in Paris was down 0.4%, while Frankfurt's DAX 40 shed 0.7%.Germany's federal budget for next year cleared a key hurdle after the Bundestag's budget committee approved a EUR524.5 billion spending plan, EUR4 billion higher than initially proposed. It includes nearly EUR98 billion in new core budget borrowing, with additional loans from a defence and infrastructure fund set to push total new debt above EUR180 billion. A final vote is expected between November 25 and 28.Separately, data showed Germany saw applications for regular insolvency proceedings rise 6.5% annually in October, though slower than September's 10.4% increase.&#34;It should be noted that the applications are only included in the statistics after the insolvency court's initial decision. In many cases, the actual date of the insolvency application is approximately three months prior,&#34; the statistical office said. In France, consumer inflation slowed more than expected. October CPI rose 0.9% year-on-year, easing from 1.2% in September and undershooting the 1.0% preliminary estimate. On a monthly basis, consumer prices rose 0.1% in October after a decline of 1.0% in September, and in line with preliminary data.On a harmonised level, allowing for EU-wide comparison, France's annual CPI inflation rate slowed to 0.8% in October from 1.0% in September, which is a sharper deceleration than the rate of 0.9% Insee had reported at the end of October.The pound was quoted at USD1.3128 early Friday in London, down from USD1.3197 late Thursday. The euro stood at USD1.1630, down to USD1.1644, while the dollar traded at JPY154.57 up from JPY154.31.Land Securities was the biggest faller, down 3.4% on the FTSE 100.Pretax profit for the six months to September 30 dropped to GBP98 million from GBP243 million, reflecting losses on disposals despite underlying rental income growth. EPRA earnings rose to GBP192 million, lifting EPRA EPS by 3.2% to 25.8p, while net rental income increased to GBP284 million from GBP269 million. Landsec declared an interim dividend of 19.0p, up from 18.6p, and said occupancy rose to around 98%. It maintained a &#34;firmly positive&#34; outlook and expects annual EPS growth at the top end of its 2%–4% range.Like-for-like net rental income in the year to March is now expected to grow by between 4% and 5%, up from initial 3-4% guidance.Melrose Industries was among the few FTSE 100 gainers, up 0.8%, after reporting a &#34;strong performance&#34; in the four months to October 31. Group revenue rose 14% year-on-year, with Engines up 28% and Structures up 5%. Adjusted operating profit was &#34;significantly higher,&#34; and the aerospace group reiterated full-year guidance, noting robust civil and defence demand and welcoming recent tariff agreements.PPHE Hotel Group topped the FTSE 250, up 11%, after shareholders Eli Papouchado and Boris Ivesha, who jointly hold around 44% of voting rights, said they plan to meet financial investors to explore options including providing growth capital or partially monetising their stakes. They stressed no talks are underway and no offer has been received. The announcement, following media reports of a potential take-private move, placed the group in an offer period under the Takeover Code.Among smaller caps, WH Ireland rose 19%, extending Wednesday's surge after receiving an indicative all-share proposal from Team PLC, offering 0.195 Team shares per WH Ireland share. The board is assessing the approach but emphasised there is no certainty of a firm bid. Team has until December 10 to formalise an offer. In Asia on Friday, the Nikkei 225 in Tokyo fell 1.8%. The Shanghai Composite lost 1.0%, the Hang Seng dropped 1.9% and Sydney's S&amp;P/ASX 200 closed down 1.4%.In New York on Thursday, Wall Street closed sharply lower. The Dow Jones Industrial Average fell 1.7%, the S&amp;P 500 also dropped 1.7%, and the Nasdaq Composite slid 2.3%.Richard Hunter said: &#34;US stocks endured a bruising session with emerging signs that the investor narrative is changing, as opposed to any clear deterioration in fundamentals.&#34;The yield on the US 10-year Treasury was quoted at 4.14%, widening from 4.07%. The yield on the US 30-year Treasury was quoted at 4.74%, widening from 4.67%. Brent oil was quoted at USD63.72 a barrel early Friday in London, up from USD63.14 late Thursday.Gold was quoted at USD4,179.70 an ounce, down from USD4,206.40.Still to come on Friday's economic calendar are eurozone GDP, employment and trade balance data, as well as Canada manufacturing sales.By Eva Castanedo, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2025 Alliance News Ltd. All Rights Reserved.</div></div>

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伦敦股市在周五下跌，富时 100 指数下跌 1.1%，原因是英国财政担忧和全球抛售。富时 250 指数和 AIM 全股指数也出现下滑。由于有报道称英国财政大臣可能放弃提高所得税的计划，投资者情绪减弱。欧洲市场也出现下跌，德国的预算和破产数据成为关注焦点。土地证券公司在报告税前利润下降后下跌 3.4%，而梅尔罗斯工业公司因表现强劲上涨 0.8%。PPHE 酒店集团上涨 11%，因主要股东正在探索财务选项

由于英国财政问题影响市场情绪，富时指数下跌