Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Europe midday: DAX hits record high as investors eye US PCE
(Sharecast News) - European markets were higher on Thursday as investors digested another dump of corporate earnings and looked ahead to inflation data in the US and Europe, while German shares hit record highs in the morning session. The Stoxx 600 index was up 0.15% to 495.31 in early deals with all major markets higher. The US personal consumption expenditures index - the US Federal Reserve's preferred measure of inflation - will be keenly watched for how it impacts the path of projected interest rate cuts this year.
German's DAX index climbed 0.52% to 17,692 to touch a record high after preliminary readings showed inflation fell in six states in February.
"Broad-based gains for Asian equities overnight ahead of the US inflation report fed through to a more positive session for Europe at the open ahead of some key inflation data later. Wall Street closed lower on the session as fourth-quarter US GDP annualised growth was revised down from 3.3% to 3.2%," said Finalto analyst Neil Wilson.
"Yesterday saw more divergence in Europe as the DAX added a quarter of a percent, whilst the FTSE 100 declined by three-quarters of a percent."
"US PCE inflation is the key data point today and has the potential to move market expectations. Core PCE is set to rise 0.4% month on month and 2.8% year on year in January. Slowing disinflation should help push out bets for rate cuts beyond May more firmly...quite frankly I find it hard to buy into a May cut anymore."
In equity news, consumer healthcare group Haleon surged after forecasting a rise in sales this year.
Ocado gained after swinging back to an underlying profit in 2023 as its joint venture with M&S returned to profit.
Budweiser owner AB InBev, the world's biggest brewer, fell after narrowly missing full-year profit and revenue forecasts.
German chipmaking tools manufacturer Aixtron slumped by almost 18% despite forecasting further revenue growth for 2024, driven by growing in demand for its new products used in the production of compound semiconductors.
Reporting by Frank Prenesti for Sharecast.com
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
