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 gain as Kingfisher, Moonpig rally
(Sharecast News) - London stocks rose in early trade on Monday as investors brushed aside concerns about global growth and inflation, at least for now. At 0850 BST, the FTSE 100 was 0.9% firmer at 7,457.15.
Victoria Scholar, head of investment at Interactive Investor, said: "European markets are staging gains this morning with the DAX up by nearly 1.5% while the FTSE 100 has pushed above 7,450 as it looks towards 7,500 as the next near-term resistance hurdle.
"Most stocks in the UK index are in the green with Kingfisher leading the charge thanks to its surprise share buyback announcement.
"US futures are pointing higher after the Dow logged its eight consecutive weekly decline and after the S&P 500 briefly fell into bear market territory on Friday before clawing back earlier losses into the close."
In equity markets, B&Q owner Kingfisher jumped to the top of the FTSE 100 after it reiterated annual guidance, reported an expected fall in first-quarter sales and announced a £300m share buyback. The company said total group sales fell 5.8% to £3.2bn in the three months to April 22, in line with its expectations, against tough comparators last year when a DIY boom amid Covid lockdowns boosted revenues.
IT provider Kainos racked up strong gains after its full-year results and following an upgrade to 'buy' from 'hold' at Canaccord.
Moonpig surged after agreeing to buy UK gifting group Buyagift for £124m.
Scholar said: "Shares in Moonpig have jumped more than 13% as investors cheer the acquisition of this cash generative, high growth business. While Moonpig is best known for selling greetings cards online, its plans to expand further into gifts via this acquisition could help broaden its product offering and boost margins, particularly for some of the more expensive add-on products beyond its bread and butter.
"Moonpig is also likely to benefit from significant synergies as the two businesses overlap and come together to save costs. After an initial surge on IPO day last year, Moonpig shares have struggled alongside other UK tech companies like TGH. With shares down around 40% since the January high, today's acquisition comes as a welcomed update for investors and arguably could mark the start of a more bullish phase for the online greetings cards business."
Market Movers
FTSE 100 (UKX) 7,457.15 0.91% FTSE 250 (MCX) 20,052.14 1.09% techMARK (TASX) 4,402.83 1.01%
FTSE 100 - Risers
Kingfisher (KGF) 254.30p 3.04% Intermediate Capital Group (ICP) 1,435.50p 2.83% Aveva Group (AVV) 2,235.00p 2.57% Anglo American (AAL) 3,605.50p 2.33% Royal Mail (RMG) 322.50p 2.25% Ashtead Group (AHT) 3,933.00p 2.21% Ocado Group (OCDO) 770.60p 2.09% Dechra Pharmaceuticals (DPH) 3,522.00p 2.09% JD Sports Fashion (JD.) 123.95p 2.02% BP (BP.) 425.60p 2.01%
FTSE 100 - Fallers
Intertek Group (ITRK) 4,831.00p -1.39% WPP (WPP) 948.80p -1.23% Unilever (ULVR) 3,502.00p -0.41% Pershing Square Holdings Ltd NPV (PSH) 2,445.00p -0.41% Reckitt Benckiser Group (RKT) 6,218.00p -0.38% Rolls-Royce Holdings (RR.) 83.09p -0.26% Associated British Foods (ABF) 1,614.00p 0.00% SEGRO (SGRO) 1,117.50p 0.09% ITV (ITV) 71.62p 0.14% Pearson (PSON) 760.00p 0.16%
FTSE 250 - Risers
Kainos Group (KNOS) 1,187.00p 15.02% Moonpig Group (MOON) 261.00p 11.06% Polymetal International (POLY) 265.00p 9.73% Auction Technology Group (ATG) 942.00p 4.32% Virgin Money UK (VMUK) 146.45p 3.79% Future (FUTR) 2,010.00p 3.72% Watches of Switzerland Group (WOSG) 932.50p 3.44% Diversified Energy Company (DEC) 126.30p 3.36% Rank Group (RNK) 102.40p 3.33% Tullow Oil (TLW) 55.30p 3.27%
FTSE 250 - Fallers
Quilter (QLT) 119.68p -15.85% Network International Holdings (NETW) 210.00p -4.20% Sirius Real Estate Ltd. (SRE) 112.60p -1.05% Vietnam Enterprise Investments (DI) (VEIL) 662.00p -0.75% Playtech (PTEC) 535.00p -0.74% VinaCapital Vietnam Opportunity Fund Ltd. (VOF) 468.50p -0.74% Drax Group (DRX) 796.00p -0.31% Baltic Classifieds Group (BCG) 129.80p -0.31% Capricorn Energy (CNE) 201.40p -0.30% Coats Group (COA) 75.20p -0.27%
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.