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Shares in Lloyds and NatWest fell Friday as investors reacted to reports of a possible increase in the U.K. bank-profit surcharge. The bank surcharge is reportedly expected to rise to 8% from 3% in Finance Minister John Healey's budget later this month.

Lloyds Banking Group PLC (LSE:LLOY) and NatWest Group PLC (LSE:NWG) were among the leading FTSE 100 fallers on Friday as investors reacted to expectations that Chancellor John Healey could raise taxes on banks in the 28 October budget. Lloyds fell 1.9% to 103.85p shortly after 8:30, while NatWest dropped 1.8% to 662.2p, with the sector facing the prospect of a higher surcharge on banking profits.

Investors aiming to buy stocks right now and throughout October might want to look beyond the broader AI-everything trade to highly-ranked cheap stocks trading for $10 a share or less.

Britain's biggest banks just moved real mortgage money across a blockchain and released it automatically when a property transfer confirmed, and the Bank of England is backing the technology over stablecoins for a reason that could reshape how sterling moves between institutions.

The FTSE 100 Index has remained inside a narrow range in the past few weeks. It has slipped by 2.55% from its highest point this year to the current 10,708.