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Market Comment - October '25

October 2025

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Ahead of the UK’s November Budget, the media gloom enveloping the UK stock market has continued to build. This week it was the turn of The Economist under the headline, “Britain is slowly going bust.” As we said last time, policy support has been lacking to date, yet it seems self-evident that unless Starmer and Reeves are planning an early retirement from political life, there will be enough in the next Budget to quieten the debt doomsters, and to encourage bottom-fishing amongst small caps. If you’ve been watching the UK equity markets this year, the story is clear: the more global FTSE 100 has strutted ahead, clocking a year to date 14%, while domestically focused smaller companies have lagged, up merely 3%. That 11% performanc ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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