Live, rolling coverage of business, economics and financial markets as investors weigh implications of Rachel Reeves’s budget

The UK’s chief secretary to the Treasury, Darren Jones, has said that the UK is seeing a normal market response to the budget, after the “PTSD” from the chaos following Liz Truss’s 2022 “mini-budget”.

Asked about the market response to the budget, the Jones told Sky News that “markets always respond to budgets in the normal way”.

There’s a lot of new information about the economy and the nation’s finances presented to Parliament, and it’s normal for markets to respond.

I think we’ve all got PTSD from Liz Truss and just let’s compare the two different scenarios, because they’re very, very different: So, under Liz Truss, as we saw, they sacked permanent secretary, they ignored the independent Office for Budget Responsibility.

EUROPE’S STOXX 600 UP 0.1%

GERMANY’S DAX FLAT

FRANCE’S CAC 40 UP 0.2%; SPAIN’S IBEX UP 0.1%

EURO STOXX INDEX UP 0.1%; EURO ZONE BLUE CHIPS UP 0.1%