Financial markets briefing: 2 November 2026 — Morning briefing

One hundredth of a percentage point. A move of 25 basis points equals 0.25 percentage points.

How widely a market move is shared across its constituent securities.

Additional compensation investors require for holding longer-maturity debt rather than rolling over short-term debt.

Return on invested capital: operating returns relative to the capital committed to the business. Definitions should be checked when comparing companies.

Weighted average cost of capital: the blended required return of debt and equity funding.

A return adjusted for inflation over the same period and in a consistent currency.

The time cash is tied up in inventory and customer receivables after allowing for supplier payment terms.

The extent to which exchange-rate changes affect domestic prices.

The influence of the earlier comparison period on a reported rate of change.

The ability to obtain cash or trade an asset without undue delay or a large adverse price impact.

Updating the reference basis and measurement framework of a statistical series; it does not itself create new production.

Broader responses in wages, pricing or expectations following an initial shock.