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 open: FTSE gains on positive Asian cues; Euromoney surges on takeover
(Sharecast News) - London's equity markets rose in early trade on Monday, with energy shares pacing the advance. At 0830 BST, the FTSE 100 was up 1.2% at 7,247.37.
Victoria Scholar, head of investment at Interactive Investor, said: "European markets are pushing higher to start the week, taking their cues from a positive session in Asia with most stocks on the FTSE 100 trading in the green. Oil and mining company are outperforming the UK index while GSK is struggling after the demerger of its consumer health business, Haleon.
"Oil prices are trading higher, attempting to reverse course after last week's sharp declines. Crude suffered its biggest weekly drop in a month amid fears of a global recession and softer demand. A weaker US dollar combined with risk-on sentiment which is lifting global equities are also supporting more bullish price action to start the week for oil with WTI and Brent crude straddling the psychological $100 a barrel level."
In equity markets, oil giants Shell and BP gushed higher as oil prices rose.
Euromoney surged after agreeing to be bought by a private equity consortium led by France's Astorg Asset Management for £1.6bn. The consortium, which also comprises London-based Epiris, will pay 1,461p per share in cash.
On the downside, Direct Line tumbled as the insurer cut its full-year profits outlook after a spike in motor claims inflation and market volatility. The company revised its combined operating ratio target range to 96% to 98% from a previous 93% to 95% outlined in May. A ratio closer to 100% indicates reduced profitability.
Peer Admiral was also under the cosh. It didn't help that both stocks were downgraded by Jefferies.
Deliveroo suffered heavy losses as it downgraded its full-year revenue guidance, highlighting "consumer headwinds" amid the cost-of-living crisis. Based on the GTV seen in the second quarter and a more cautious economic outlook, the company now forecasts full-year GTV growth of between 4% and 12% at constant currency, down from previous guidance of 15% to 25%.
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.