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 IPOs and placings
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
London close: Stocks manage gains as miners surge
(Sharecast News) - London's stock markets closed marginally higher on Tuesday, driven by positive performances from the mining sector and consumer goods behemoth Unilever, which enjoyed a boost from robust second-quarter results. The FTSE 100 ended the trading day up 0.17% at 7,691.80 points, while the FTSE 250 edged up 0.03% to settle at 19,149.88.
Currency markets saw sterling advance, with the pound last up 0.34% on the dollar at $1.2873, while it climbed 0.53% against the common currency to change hands at €1.1653.
"After a poor start to the week as investors grew tired of waiting for the next stimulus initiative from China to boost its economy, Asia stocks rallied on Tuesday as investors got some of the news they wanted," said AJ Bell head of financial analysis Danni Hewson.
"Reports suggested Beijing will provide more support, albeit details remain thin on the ground at present.
"Good news from China always makes its way to the UK market in a flash, with commodity producers riding high."
Rising finance costs dampen UK manufacturers' investment intentions
In economic news, a surge in financing costs looked to be constraining UK manufacturers' investment ambitions, despite increased optimism, according to the Confederation of British Industry (CBI).
In the CBI's quarterly review ending in July, British manufacturers demonstrated heightened positivity, with the business sentiment index rising to a net balance of +6%, a significant recovery from April's -2%.
However, the increased confidence was paired with a drop in investment intentions due to escalating finance costs.
The report indicated that the proportion of companies identifying financial costs as an investment obstacle has hit a 32-year peak.
In terms of barriers to investment, uncertainty around demand topped the list for 40% of manufacturers.
Following closely were inadequate net returns, mentioned by 35% of firms.
The availability of internal finance and cost of finance, both peaking since July 2020, were cited by 24% and 15% of manufacturers respectively.
Positive news emerged on the export front, as the export optimism index for the forthcoming year advanced to +5% from a previous -17%.
However, that optimism was countered by a marginal slump in the index for total new orders, which fell to -6% from -3%.
In terms of pricing, domestic selling price growth decelerated, while the pace of average cost growth quickened, indicating a squeeze on manufacturers' margins.
Elsewhere, fresh survey data from PwC showed a significant uplift in UK consumer confidence, which now stood at -13, a marked improvement from the -25 recorded in spring and the highest level in 18 months.
The figure also represented a 31-point rise compared to last September and a 32-point surge since January.
The survey disclosed improvements in sentiment across all demographic groups since Spring, with a shrinking disparity between different age and socio-economic categories.
The under-25s remained the most optimistic age group, while those aged 55 to 64 were the least positive.
Mining giants lead London higher; Compass, Auto Trader suffer losses
On London's equity markets, key mining stocks were among the biggest gainers as base metal prices surged following China's announcement of additional economic support measures.
Anglo American was up 4.83% and Rio Tinto Group gained 4.19%, while Antofagasta and Glencore also saw their share prices ascend, by 6.59% and 0.71%, respectively.
Consumer goods giant Unilever saw a boost of 4.69% after reporting a 3.3% increase in interim earnings.
That growth was propelled by increased prices, and the company declared an underlying operating profit of €5.2bn as underlying sales expanded 9.1% to €30.4n.
However, Unilever said it was anticipating a moderation in underlying price growth throughout the year.
Croda International shares increased by 4.73% following the release of its half-year results.
Other winners included Tyman and SThree, with rises of 4.56% and 2.87% respectively, both rallying on the back of favourable results.
On the downside, Compass Group dropped 4.83% despite the catering company confirming its full-year outlook and registering a rise in third-quarter organic revenue.
Auto Trader Group experienced a 3.56% decline following a downgrade from 'neutral' to 'underweight' by JPMorgan.
The downgrade was justified by decelerating momentum in the core business and an unattractive valuation, according to the financial services firm.
Bridgepoint Group also suffered a slump, with shares down by 6.98% following the release of its latest results.
Reporting by Josh White for Sharecast.com.
Market Movers
FTSE 100 (UKX) 7,691.80 0.17% FTSE 250 (MCX) 19,149.88 0.03% techMARK (TASX) 4,450.96 -0.24%
FTSE 100 - Risers
Antofagasta (ANTO) 1,657.00p 6.59% Anglo American (AAL) 2,506.00p 4.83% Croda International (CRDA) 5,930.00p 4.73% Unilever (ULVR) 4,193.00p 4.34% Rio Tinto (RIO) 5,394.00p 4.19% Prudential (PRU) 1,089.00p 3.37% Admiral Group (ADM) 2,293.00p 3.14% Smith (DS) (SMDS) 301.70p 2.86% Mondi (MNDI) 1,336.50p 2.37% Smurfit Kappa Group (CDI) (SKG) 3,024.00p 2.23%
FTSE 100 - Fallers
Compass Group (CPG) 2,016.00p -5.17% Melrose Industries (MRO) 518.40p -2.74% International Consolidated Airlines Group SA (CDI) (IAG) 149.65p -2.65% Rolls-Royce Holdings (RR.) 152.65p -2.58% Associated British Foods (ABF) 2,038.00p -2.53% Auto Trader Group (AUTO) 634.80p -2.34% Flutter Entertainment (CDI) (FLTR) 14,940.00p -2.26% Next (NXT) 7,058.00p -2.04% Ocado Group (OCDO) 769.40p -1.99% Shell (SHEL) 2,410.00p -1.35%
FTSE 250 - Risers
Me Group International (MEGP) 159.20p 4.87% Tyman (TYMN) 298.00p 4.56% Elementis (ELM) 108.80p 4.41% W.A.G Payment Solutions (WPS) 97.60p 2.74% Jupiter Fund Management (JUP) 107.40p 2.58% Lancashire Holdings Limited (LRE) 606.00p 2.54% IP Group (IPO) 60.80p 2.53% Pagegroup (PAGE) 448.60p 2.23% Essentra (ESNT) 166.00p 2.22% Domino's Pizza Group (DOM) 333.00p 2.21%
FTSE 250 - Fallers
Bridgepoint Group (Reg S) (BPT) 190.50p -9.80% Moneysupermarket.com Group (MONY) 257.40p -6.81% Wizz Air Holdings (WIZZ) 2,416.00p -3.53% Aston Martin Lagonda Global Holdings (AML) 340.20p -3.35% Mitchells & Butlers (MAB) 210.40p -3.04% Playtech (PTEC) 580.50p -2.68% Target Healthcare Reit Ltd (THRL) 74.00p -2.62% easyJet (EZJ) 446.00p -2.06% BH Macro Ltd. GBP Shares (BHMG) 362.50p -2.03% Discoverie Group (DSCV) 823.00p -2.02%
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.