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 open: Stocks flat but JD Sports, Next lifted by broker notes
(Sharecast News) - London stocks were little changed in early trade on Friday as investors continued to mull the prospect of further interest rate hikes from the Federal Reserve. At 0855 BST, the FTSE 100 flat at 7,445.04.
Richard Hunter, head of markets at Interactive Investor, said: "The spectre of interest rate rises which may have further to run has stalled progress over the last few trading sessions, and the latest economic news from the US in particular has strengthened the possibility.
"Lower than expected jobless claims suggest that the labour market remains resilient despite the rate hikes so far. In addition, a further rise in labour costs and a recent spike in energy prices are increasing the difficulties of getting the inflation genie back into the bottle. As such, the Federal Reserve may consider that it has leeway to raise rates once more towards the end of the year. Its insistence that it will remain data dependent, when the data coming through is strong, has left investors who were hoping for imminent rate cuts high and dry."
Hunter also pointed to renewed tensions between China and the US, "with the reported ban on iPhone use by state employees and wider protectionist fears in both directions weighing on sentiment".
In equity markets, JD Sports jumped to the top of the FTSE 100 after Berenberg lifted its price target on the shares to 225p from 210p and said investors still underappreciate the strength of the company's model, its positioning and the international opportunity.
Next was also in the black after an upgrade to 'buy' from 'hold' at Societe Generale.
Computacenter surged as its first-half revenues and pre-tax profit came in ahead of expectations.
Housebuilder Berkeley was little changed after it reaffirmed full-year earnings guidance but said private sales reservations were down 35% due to rising interest rates and political volatility.
On the downside, Petershill Partners slumped after the investment firm cut its full-year guidance.
Market Movers
FTSE 100 (UKX) 7,445.04 0.04% FTSE 250 (MCX) 18,437.71 0.29% techMARK (TASX) 4,293.66 0.74%
FTSE 100 - Risers
JD Sports Fashion (JD.) 137.90p 2.72% Hiscox Limited (DI) (HSX) 1,004.00p 1.93% Beazley (BEZ) 548.00p 1.76% Next (NXT) 7,104.00p 1.60% Spirax-Sarco Engineering (SPX) 10,040.00p 1.60% Flutter Entertainment (CDI) (FLTR) 14,155.00p 1.51% Ocado Group (OCDO) 833.00p 1.17% Centrica (CNA) 160.80p 0.94% Auto Trader Group (AUTO) 604.80p 0.90% Compass Group (CPG) 2,019.00p 0.90%
FTSE 100 - Fallers
Melrose Industries (MRO) 521.40p -2.94% Convatec Group (CTEC) 224.80p -2.60% Smurfit Kappa Group (CDI) (SKG) 3,048.00p -1.55% Smith (DS) (SMDS) 291.10p -0.99% Vodafone Group (VOD) 73.28p -0.87% Johnson Matthey (JMAT) 1,754.00p -0.76% Rio Tinto (RIO) 4,810.00p -0.76% Shell (SHEL) 2,484.00p -0.72% Smith & Nephew (SN.) 1,054.00p -0.71% Airtel Africa (AAF) 112.60p -0.62%
FTSE 250 - Risers
Hipgnosis Songs Fund Limited NPV (SONG) 91.00p 14.04% Computacenter (CCC) 2,302.00p 6.77% Oxford Instruments (OXIG) 2,300.00p 4.55% Darktrace (DARK) 398.20p 3.86% Digital 9 Infrastructure NPV (DGI9) 57.40p 3.42% Genus (GNS) 2,114.00p 2.52% Currys (CURY) 49.54p 2.23% Synthomer (SYNT) 45.98p 2.18% Playtech (PTEC) 533.00p 1.81% Serco Group (SRP) 153.00p 1.73%
FTSE 250 - Fallers
Petershill Partners (PHLL) 166.40p -5.13% Energean (ENOG) 1,068.00p -4.56% Me Group International (MEGP) 150.00p -2.72% TBC Bank Group (TBCG) 2,655.00p -1.67% JPMorgan Emerging Markets Inv Trust (JMG) 105.00p -1.50% Octopus Renewables Infrastructure Trust (ORIT) 84.90p -1.28% JPMorgan Japanese Inv Trust (JFJ) 480.00p -1.13% Mitchells & Butlers (MAB) 213.80p -1.11% Baillie Gifford Japan Trust (BGFD) 728.00p -1.09% Baltic Classifieds Group (BCG) 198.00p -1.00%
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.