London shares slightly up before Hunt's statement

As expected, the Fed minutes revealed that the central bank is taking a hawkish stance, in line with its “higher rates for longer” motto. The BoE governor Bailey also said that inflation persistence may require interest rates to rise again. This dented sentiment and led the FTSE 100 down 0.2%.

The blue-chip index was up 0.2% this morning, ahead of the Autumn Statement. The Chancellor of the Exchequer, Jeremy Hunt, is due to unveil plans to cut Britain’s tax burden later today.

Higher gold prices are boosting precious metal miners. Shares of Sage jumped 10.4% after the software company posted an 18% gain in full-year underlying operating profit, and launched a share buyback of 350 million pounds.

Johnson Matthey saw its shares rise 3.0% after it raised its outlook for full-year underlying operating performance.

Meanwhile, DIY chains owner Kingfisher dropped 6.7% after it slashed its profit guidance again after a first cut in September.

Things to read today:

The risks of tax cuts in Jeremy Hunt’s Autumn Statement (Financial Times)

Britain Offers a Lesson on Migrant Treatment (Bloomberg)

Meloni’s Italy Tastes Schadenfreude Over German Fiscal Fiasco (Bloomberg)