Welcome back to ‘s FTSE 100 liveblog.

It’s Wednesday morning and all eyes are on John Healey, who will deliver his first Budget later today. The markets are set to open into the red as investors hold their breath for the Chancellor’s speech.

Rising oil prices will also pose a challenge to the FTSE 100, which shed more than 0.7 per cent on Tuesday. There is plenty for the Square Mile to watch out for in the Budget, from a raid on banks to higher business rates for office buildings. Until then, stay tuned for the morning’s market news.

Here’s a few of our top headlines from overnight: