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

Good morning, and welcome to our live coverage of business, economics and financial markets.

UK house price growth slowed in October ahead of Wednesday’s budget, surprising economists who had expected faster increases, according to one of the key measures collected by a lender.

Housing market activity has remained relatively resilient in recent months, with the number of mortgage approvals approaching the levels seen pre-pandemic, despite the significantly higher interest rate environment.

9:30am GMT: S&P Global UK manufacturing purchasing managers’ index (October; final reading; previous: 51.5; consensus: 50.3)

12:30pm GMT: US non-farm payrolls (October: prev.: 254,000 new jobs; cons.: 113,000)

12:30pm GMT: US unemployment (October: prev.: 4.1%; cons.: 4.1%)