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: Stocks edge lower on weak Asian cues
(Sharecast News) - London stocks edged lower in early trade on Monday, taking their cue from a downbeat Asian session after the release of disappointing Chinese trade data. At 0845 BST, the FTSE 100 was down 0.3% at 7,364.96.
Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, said: "The week has got off to a negative start for the UK's market, a result of poor sentiment coming from the US and China. In the US, the trend has been negative for weeks, but had started to look brighter, before comments from the Bank of England at the end of last week about weak economic growth applied the brakes to momentum.
"Anxiety is stemming from the Fed's next moves, with uncertainty creeping in about the scale and speed of interest rate hikes. All this comes at the same time as China grapples with ongoing lockdowns and the prevailing economic storm these entail. We saw Chinese export growth slow to two-year lows in April. That said, there have been tentative hints that China is stepping away from its blanket zero-Covid policy, which may mean an easing of the very tough conditions in the all-important production lines in the country.
"There are of course ongoing geopolitical tensions, with the situation in Ukraine far from resolved. Victory Day in Russia is likely to increase tensions, as the world waits to hear President Putin's long-awaited speech."
In equity markets, property firms Shaftesbury and Capital & Counties were both weaker as they confirmed they are in advanced discussions about a possible merger.
Responding to press speculation of a £3.5bn deal, they said: "The possible merger would create a REIT focused on the West End of London with a portfolio of circa 2.9 million square feet of lettable space located in high-profile destinations including Covent Garden, Carnaby, Chinatown and Soho.
"The combined ownership would comprise c.1.8 million square feet of retail and hospitality space, together with office and residential accommodation of c.1.1 million square feet."
Rightmove was in the red after it announced that chief executive Peter Brooks-Johnson will step down from the board and leave the company in the coming year.
Elsewhere, cyber security company NCC Group nudged up after saying it appointed a new chief executive and lifting revenue guidance for the second half of the year.
Energean rallied as the hydrocarbon exploration and production company said its Athena exploration well had made a commercial gas discovery off the coast of Israel.
Market Movers
FTSE 100 (UKX) 7,364.96 -0.31% FTSE 250 (MCX) 19,640.50 -0.90% techMARK (TASX) 4,274.89 -0.53%
FTSE 100 - Risers
Sainsbury (J) (SBRY) 231.30p 1.49% BAE Systems (BA.) 764.40p 1.11% National Grid (NG.) 1,192.50p 1.10% Shell (SHEL) 2,322.50p 1.00% Relx plc (REL) 2,324.00p 0.74% British American Tobacco (BATS) 3,323.00p 0.70% BP (BP.) 428.70p 0.48% Tesco (TSCO) 272.70p 0.48% Experian (EXPN) 2,658.00p 0.45% Intertek Group (ITRK) 4,944.00p 0.43%
FTSE 100 - Fallers
Rightmove (RMV) 529.40p -5.26% Anglo American (AAL) 3,405.50p -2.38% Rio Tinto (RIO) 5,319.00p -2.22% Royal Mail (RMG) 319.50p -2.20% Scottish Mortgage Inv Trust (SMT) 814.20p -2.19% Entain (ENT) 1,343.00p -2.04% Aveva Group (AVV) 2,101.00p -2.01% London Stock Exchange Group (LSEG) 7,160.00p -1.86% Flutter Entertainment (CDI) (FLTR) 8,348.00p -1.79% Glencore (GLEN) 478.90p -1.78%
FTSE 250 - Risers
Polymetal International (POLY) 276.00p 9.52% Energean (ENOG) 1,361.00p 4.45% QinetiQ Group (QQ.) 351.20p 3.11% Wood Group (John) (WG.) 230.80p 2.85% Bankers Inv Trust (BNKR) 103.60p 1.57% Hipgnosis Songs Fund Limited NPV (SONG) 118.00p 1.55% Clipper Logistics (CLG) 861.00p 1.41% Darktrace (DARK) 430.40p 1.34% Vivo Energy (VVO) 147.40p 1.10% Greencore Group (CDI) (GNC) 109.80p 0.92%
FTSE 250 - Fallers
Capital & Counties Properties (CAPC) 154.60p -6.53% Ferrexpo (FXPO) 143.90p -5.45% Victrex plc (VCT) 1,728.00p -3.89% Allianz Technology Trust (ATT) 230.50p -3.56% Future (FUTR) 1,960.00p -3.54% Shaftesbury (SHB) 557.50p -3.38% FDM Group (Holdings) (FDM) 920.00p -3.36% Aston Martin Lagonda Global Holdings (AML) 802.40p -3.30% Virgin Money UK (VMUK) 152.65p -3.29% Safestore Holdings (SAFE) 1,096.00p -3.18%
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.