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
London close: Stocks rise as US inflation meets expectations
(Sharecast News) - London's stock markets closed with gains on Thursday, buoyed by a US inflation report that came broadly in line with market expectations. The FTSE 100 climbed 0.41% to settle at 7,618.60 points by the close of trading, and the FTSE 250 finished 0.3% higher at 18,993.81 points.
In the currency sector, sterling was last up 0.02% on the dollar, with one pound fetching $1.2722, while it declined 0.35% against the common currency, changing hands at €1.1548.
"It's been another positive session for markets in Europe, although the FTSE100 has underperformed against its European peers due to over 10% of the index going ex-dividend, including the likes of AstraZeneca, Rio Tinto, Shell, NatWest, Barclays, BP, and HSBC, which has served to knock over 30 points off the index," said CMC Markets chief market analyst Michael Hewson.
"The announcement by China to end its ban on overseas travel groups to other countries has also helped boost travel, leisure, and the luxury sector, with LVMH, Hermes, and Kering, getting a lift along with Burberry in the UK."
US inflation comes in as expected, jobless claims accelerate
In economic news, official government data revealed that the US consumer price index inflation in July increased by 0.2%, aligning with the predictions of many economists.
The US Bureau of Labor Statistics confirmed that the month-on-month growth rate for CPI was consistent with the rate observed in the previous month.
Furthermore, when excluding volatile elements like food and energy from the calculation, core inflation for July also recorded a growth of 0.2%, matching the June figure.
Year-on-year, the July CPI rate saw a modest rise to 3.2% from June's 3%, whereas the annual core CPI reflected a slight deceleration to 4.7% from the 4.8% noted in June.
In a separate update, the US Department of Labor disclosed that jobless claims for the week ending on 5 August surged to 248,000, an uptick from the prior week's figure of 227,000.
The rise exceeded the expectations of economists, who had projected a smaller surge to approximately 230,000.
Looking at the more consistent four-week moving average figure, the number climbed to 231,000 from an earlier 228,250.
However, there was a slight decrease in ongoing claims for the week ending 29 July, registering at 1.684 million, down from the 1.692 million reported the prior week.
Spirax-Sarco, miners take a hit; OSB Group gains
On London's equity markets, Spirax-Sarco Engineering took a hit of -2.35% as investors reacted to the news of a 7% dip in its statutory operating profit for the first half.
The decline was attributed mainly to a slump in sales from its Watson-Marlow division.
Mining giants were also affected - Antofagasta shed 1.52% from its value, reversing its initial gains.
Despite announcing a 14.3% year-on-year revenue boost to $2.89bn, largely credited to increased copper sales volumes and prices, the stock couldn't maintain its upward momentum.
Meanwhile, its industry counterpart, Rio Tinto, tumbled 3.27% as it traded ex-dividend.
The property sector reflected turbulence, with Savills plummeting a significant 10.74% after the real estate firm slashed its financial year forecasts.
A gruelling first half for the company showed a dramatic 72% drop in profits.
On the upside, housebuilder Persimmon swelled 2.23% in the wake of its assurance to stakeholders that it remains poised to meet full-year profit projections.
Despite obstacles like escalating mortgage rates and the end of the Help-to-Buy scheme, Persimmon reported "robust" top-line growth, increments in average private selling prices in its order book, and successful cost savings.
On the FTSE 250, luxury retailer Watches of Switzerland Group ascended 4.26%.
The company's first-quarter sales matched projections, and it confidently reiterated its full-year guidance, pointing to a sturdy demand for luxury watches.
Lastly, OSB Group, a specialist in mortgage lending, saw a 4.04% surge by the end of trading.
While it confessed to a less-than-impressive performance in its first-half results, its share price still rose, especially when considering its 25% value loss since the year's onset.
Broker Shore Capital hinted at potential revisions to its price prediction based on the day's data, but maintained optimism about the shares' fundamental upside.
Reporting by Josh White for Sharecast.com.
Market Movers
FTSE 100 (UKX) 7,618.60 0.41% FTSE 250 (MCX) 18,993.81 0.30% techMARK (TASX) 4,376.80 0.50%
FTSE 100 - Risers
Burberry Group (BRBY) 2,257.00p 2.78% Hiscox Limited (DI) (HSX) 1,075.00p 2.77% Croda International (CRDA) 5,640.00p 2.77% Flutter Entertainment (CDI) (FLTR) 14,750.00p 2.47% Haleon (HLN) 336.15p 2.28% Prudential (PRU) 1,038.50p 2.26% Persimmon (PSN) 1,148.50p 2.23% Severn Trent (SVT) 2,444.00p 2.22% Diageo (DGE) 3,406.50p 2.01% Rightmove (RMV) 588.20p 1.98%
FTSE 100 - Fallers
Rio Tinto (RIO) 4,793.00p -3.27% Spirax-Sarco Engineering (SPX) 10,580.00p -2.35% Fresnillo (FRES) 539.60p -1.78% Antofagasta (ANTO) 1,582.50p -1.52% NATWEST GROUP (NWG) 235.50p -1.22% Ashtead Group (AHT) 5,708.00p -0.70% HSBC Holdings (HSBA) 632.00p -0.63% Rolls-Royce Holdings (RR.) 207.80p -0.62% Barclays (BARC) 148.00p -0.60% BAE Systems (BA.) 1,022.00p -0.58%
FTSE 250 - Risers
Liontrust Asset Management (LIO) 652.00p 5.16% Watches of Switzerland Group (WOSG) 709.50p 4.26% OSB Group (OSB) 391.20p 4.04% Capita (CPI) 20.30p 3.94% Virgin Money UK (VMUK) 170.75p 3.30% Hill and Smith (HILS) 1,734.00p 3.21% Wetherspoon (J.D.) (JDW) 659.00p 3.21% Baltic Classifieds Group (BCG) 211.00p 3.18% Just Group (JUST) 86.30p 3.11% Ashmore Group (ASHM) 203.60p 2.78%
FTSE 250 - Fallers
Savills (SVS) 885.00p -10.74% AJ Bell (AJB) 296.60p -7.08% Domino's Pizza Group (DOM) 409.60p -3.53% FDM Group (Holdings) (FDM) 518.00p -3.36% Clarkson (CKN) 2,725.00p -3.20% North Atlantic Smaller Companies Inv Trust (NAS) 3,700.00p -3.14% Vanquis Banking Group 20 (VANQ) 114.00p -2.90% 4Imprint Group (FOUR) 4,925.00p -2.67% CLS Holdings (CLI) 128.00p -2.44% Wizz Air Holdings (WIZZ) 2,327.00p -2.43%
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.