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 midday: Stocks stay down as miners hit by China data
(Sharecast News) - London stocks were still down by midday on Monday, with miners under the cosh after disappointing Chinese growth figures. The FTSE 100 was down 0.3% at 7,413.38.
Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, said: "The FTSE 100 has relinquished some of the gains it accumulated last week on weaker-than-expected Chinese economic data. China's GDP rose 6.3%, which was higher than last quarter but some way below expectations.
"The sheer scale of China's economy means a perceived stalling in the post-pandemic recovery has ramifications for global demand and economies. There's also little news to distract the market from looming UK inflation data later this week, with the UK poised to assess the latest reading and what this will mean for the interest rate trajectory."
On home shores, a survey out earlier showed that house prices ticked lower in July as higher borrowing costs hit home.
According to the latest Rightmove house price index, house prices dipped 0.2% in July, compared to 0.0% growth in June.
The national average asking price is now £371,907, around 0.5% higher than July 2022 and the lowest annual growth since November 2019.
Rightmove said new sellers were tempering price expectations in response to rising mortgage costs and increasing buyer affordability constraints. The number of agreed sales is now 12% down on July 2019.
However, buyer demand remained resilient, Rightmove noted, up 3% on 2019. Surveyed agents said right-priced homes were still attracting buyers due to historical supply constraints.
Tim Bannister, director of property science at Rightmove, said: "The interest-rate brakes being applied more strongly to slow the economy are now beginning to bite in the housing market.
"While prices and sales bounced back this year much more strongly than most expected, the unexpectedly stubborn inflation figures and the surprise of further mortgage rate rises, when many felt they had stablished, have contributed to the fall in prices and number of sales agreed.
"However, buyer remains resilient."
In equity markets, heavily-weighted mining stocks were the worst performers on the back of the China data, with Anglo American, Antofagasta, Glencore and Rio Tinto all down.
Gambling firm Entain fell after saying it had bought Angstrom Sports for £81m plus contingent payments up to a maximum of £122m. US-based Angstrom is a specialist provider of next generation sports modelling, forecasting and data analytics.
On the upside, Johnson Matthey gained after an upgrade to 'buy' from 'hold' at Deutsche Bank.
Aston Martin rallied as Barclays hiked its price target on the shares to 375p from 300p.
Market Movers
FTSE 100 (UKX) 7,413.38 -0.29% FTSE 250 (MCX) 18,481.38 -0.46% techMARK (TASX) 4,372.45 -0.35%
FTSE 100 - Risers
United Utilities Group (UU.) 962.40p 1.20% Severn Trent (SVT) 2,476.00p 0.94% NATWEST GROUP (NWG) 245.00p 0.82% Johnson Matthey (JMAT) 1,768.00p 0.80% National Grid (NG.) 1,029.50p 0.78% Spirax-Sarco Engineering (SPX) 10,530.00p 0.72% Pershing Square Holdings Ltd NPV (PSH) 2,898.00p 0.69% Compass Group (CPG) 2,106.00p 0.62% Lloyds Banking Group (LLOY) 44.64p 0.62% Vodafone Group (VOD) 72.63p 0.60%
FTSE 100 - Fallers
Coca-Cola HBC AG (CDI) (CCH) 2,360.00p -2.96% Ocado Group (OCDO) 578.40p -2.69% Glencore (GLEN) 455.00p -2.53% Anglo American (AAL) 2,292.00p -2.43% Antofagasta (ANTO) 1,503.00p -2.21% Flutter Entertainment (CDI) (FLTR) 15,645.00p -2.13% Halma (HLMA) 2,202.00p -1.87% Rio Tinto (RIO) 5,116.00p -1.84% Burberry Group (BRBY) 2,094.00p -1.51% Entain (ENT) 1,257.50p -1.18%
FTSE 250 - Risers
Aston Martin Lagonda Global Holdings (AML) 331.00p 4.15% Bakkavor Group (BAKK) 97.20p 3.18% Ninety One (N91) 171.40p 2.45% Babcock International Group (BAB) 303.60p 1.88% Wetherspoon (J.D.) (JDW) 720.00p 1.34% Investec (INVP) 464.40p 1.15% Liontrust Asset Management (LIO) 646.50p 1.02% FDM Group (Holdings) (FDM) 598.00p 1.01% Octopus Renewables Infrastructure Trust (ORIT) 91.30p 1.00% Dr. Martens (DOCS) 133.80p 0.98%
FTSE 250 - Fallers
4Imprint Group (FOUR) 4,510.00p -3.11% Currys (CURY) 51.70p -2.64% TBC Bank Group (TBCG) 2,460.00p -2.38% Helios Towers (HTWS) 87.35p -2.18% Mobico Group (MCG) 97.65p -2.15% Future (FUTR) 748.00p -1.97% JTC (JTC) 723.50p -1.96% Games Workshop Group (GAW) 10,890.00p -1.89% Clarkson (CKN) 2,865.00p -1.88% Spectris (SXS) 3,586.00p -1.73%
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.