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 fall as China data sparks concerns
(Sharecast News) - London stocks edged lower in early trade on Monday as disappointing Chinese data added to concerns about a global slowdown. At 0830 BST, the FTSE 100 was down 0.4% at 7,390.31.
Victoria Scholar, head of investment at Interactive Investor, said: "China's economic data pointed to a notable slowdown in April. Retail sales fell by 11% year-on-year, missing analysts' estimates and marking the biggest drop since March 2020. Industrial production also disappointed, falling for the first time in over two years, slumping by 2.9% versus expectations for 0.4% growth and down from a 5% gain in March.
"The urban unemployment rate worsened to 6.1% in April from 5.8% in March, marking the highest reading since February 2020 at the height of the pandemic. China's National Bureau of Statistics blamed the 'increasingly grim and complex international environment and greater shock of the pandemic at home'.
"China's draconian approach to its latest covid outbreak has really started to weigh heavily on its economy, a critical engine of growth around the world as seen by today's figures. It is raising concerns that the world's largest economy could shrink in the second quarter, potentially paving the way for a recession by the end of Q3 which would have a notable impact on the outlook for global growth."
In equity markets, Aviva slumped due to a share consolidation and after a downgrade to 'neutral' by Goldman Sachs.
Rolls-Royce was also trading down after JPMorgan reiterated its 'underweight' rating on the shares.
Credit-checking firm Experian was weaker after it agreed to buy a 51% stake in Brazilian fintech group MOVA as part of a BRL 40.0m (£6.45m) cash deal.
High Street baker Greggs was on the back foot as it posted a 15.8% rise in like-for-like sales in the 10 weeks to May 14 at its company-managed stores, but said it expected figures to normalise against comparisons with more "robust" trading periods last year.
Specialist technical products maker Diploma was in the red as it said it expected annual operating margins to be at the top end of guidance after posting a rise in interim profits, but as revenues fell short of expectations.
On the upside, Vodafone rallied after Emirates Telecommunications Group took a 9.9% stake in the company for around $4.4bn.
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.