Sharecast - At 0820 GMT, the FTSE 100 was up 0.2% at 7,486.35.
Hunt's plans have already been published online but the Chancellor is due to set out further details in Parliament later in the day.
Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown (LON:HRGV), said: "Hunt is widely expected to scorch red tape and update or replace a number of EU regulations. It’s clear the government is going for growth, but the extent of today’s package will need to be vast, if it’s to have any meaningful impact for brand UK at a time when the country struggles with a slowing economy and cost-of-living crisis.
"Some of the regulatory changes could include relaxing the rule that demands major banks to keep investment and retail banking separate. There’s an argument to say it’s crucial the government strikes the right balance between stoking the engines of growth in what has become a tepid environment, and not slashing standards too far in the name of that aim. The market’s likely to have a sharp reaction to today’s reform if any deeper-than-expected shake ups are in Hunt’s package."
In equity markets, InterContinental Hotels was the standout gainer on the FTSE 100 after an upgrade to ‘buy’ from ‘hold’ at Peel Hunt.
Housebuilder Berkeley Group also rose after it backed its full-year profit outlook but posted a drop in first-half profits.
Investment manager Man Group surged as it announced a share buyback programme of up to $125m.
On the downside, Primark owner Associated British Foods (LON:ABF) edged lower as it maintained full-year guidance, saying it continued to expect further significant input cost inflation, but the volatility of input costs had diminished.
Market Movers
FTSE 100 (UKX) 7,486.35 0.19%
FTSE 250 (MCX) 18,887.03 0.33%
techMARK (TASX) 4,395.62 0.14%
FTSE 100 - Risers
InterContinental Hotels Group (IHG) 4,872.00p 1.67%
Scottish Mortgage Inv Trust (SMT) 781.80p 1.66%
Antofagasta (LON:ANTO) 1,460.50p 1.60%
Rio Tinto (LON:RIO) 5,867.00p 1.51%
Anglo American (LON:AAL) 3,342.00p 1.29%
Flutter Entertainment (CDI) (FLTR) 12,010.00p 1.22%
Ocado Group (LON:OCDO) 682.80p 1.04%
Next (NXT) 5,870.00p 1.03%
Ashtead Group (LON:AHT) 4,963.00p 1.00%
Burberry Group (LON:BRBY) 2,134.00p 0.99%
FTSE 100 - Fallers
BP (LON:BP.) 460.20p -0.81%
Pershing Square (NYSE:SQ) Holdings Ltd NPV (PSH) 2,865.00p -0.69%
GSK (GSK) 1,473.60p -0.67%
London Stock Exchange Group (LON:LSEG) 7,340.00p -0.54%
Diageo (LON:DGE) 3,758.00p -0.48%
Shell (LON:RDSa) (SHEL) 2,299.00p -0.45%
Frasers Group (FRAS) 811.00p -0.43%
Associated British Foods (ABF) 1,649.00p -0.33%
Reckitt Benckiser Group (RKT) 5,864.00p -0.27%
Unilever (LON:ULVR) 4,150.00p -0.26%
FTSE 250 - Risers
IP Group (LON:IPO) 60.85p 4.82%
PureTech Health (PRTC) 300.00p 4.71%
Man Group (EMG) 212.80p 4.16%
TP Icap Group (TCAP) 174.40p 2.47%
The Renewables Infrastructure Group Limited (TRIG) 130.80p 2.19%
Hammerson (HMSO) 24.10p 2.03%
ASOS (LON:ASOS) (ASC) 586.50p 1.73%
UK Commercial Property Reit Limited (UKCM) 59.00p 1.72%
HICL Infrastructure (HICL) 163.80p 1.49%
Edinburgh Inv Trust (EDIN) 633.00p 1.44%
FTSE 250 - Fallers
Pets at Home Group (PETS) 266.00p -1.41%
Assura (AGR) 53.60p -1.38%
Moonpig Group (MOON) 129.10p -1.15%
Clarkson (CKN) 2,785.00p -1.07%
Fidelity China Special Situations (LON:FCSS) 236.50p -1.05%
Big Yellow Group (LON:BYG) 1,125.00p -0.97%
LondonMetric Property (LMP) 175.50p -0.74%
Discoverie Group (DSCV) 805.00p -0.62%
Games Workshop Group (GAW (LON:GAW)) 7,245.00p -0.55%
Grainger (GRI) 243.20p -0.49%