BRITISH BANK SHARES RISE, BARCLAYS UP 3.2%, NATWEST UP 1.8%, FTSE 350 BANK INDEX UP 0.8%
LONDON, Oct 30 (Reuters) -UK domestically-focussed stocks led a charge higher in London on Wednesday as UK finance minister Rachel Reeves's first budget encouraged a rise particularly in shares of pubs, homebuilders and gambling platforms.
At 1235 GMT, the mid-cap FTSE 250 .FTMC index was at a session high, up 0.9%, while the FTSE 100 .FTSE was down 0.4% and barely changed from the day's open.
A basket of UK homebuilder stocks .FTNMX402020 surged 3.5%, set for its biggest one-day rise since May. Crest Nicholson rose 4.3%, Persimmon PSN.L was up 3.7% and Taylor Wimpey was up 3.2%.
Betting companies Entain ENT.L and Flutter Entertainment FLUT.K rose to the top of the FTSE 350, up 5.7%-6.8%.
Pub stocks also enjoyed a lift after Reeves announced a cut to duties on alcoholic drinks in pubs. Wetherspoons JDW.L, Marstons MARS.L and Mitchells & Butlers MAB.L were last up 3.7%-7.2%.
Elsewhere, a basket of UK utilities names .FTUB6510 ticked higher, up 1.4%.
The pound GBP=D3 pared some of the day's losses, trading down 0.2% on the day at $1.2985, up from an earlier low of $1.2937.
Reporting by Lucy Raitano
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