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 rally on China optimism; Bunzl boosts guidance
(Sharecast News) - London stocks shot higher in early trade on Tuesday following a positive Asian session, as traders returned to their desks after the long weekend. At 0915 BST, the FTSE 100 was up 1.2% at 7,424.44.
Asian markets rallied for a second day in a row, after China unveiled strategic measures to boost its stock markets, such as a cut in stamp duty and the loosening of margin loan rules.
Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "Fresh evidence that inflation is going in the right direction and fresh stimulus for industries in China have given the FTSE 100 a big spring in its step in early trade.
"Commodity giants have jumped higher as metals prices have risen after Beijing introduced support for transport, property and infrastructure projects. For now this extra help has boosted sentiment but underlying questions still remain over the fragility of China's economy."
On home shores, investors were digesting the latest data from the British Retail Consortium/NielsenIQ, which showed that annual shop price inflation eased to 6.9% in August from 7.6% in July. Meanwhile, food inflation fell to 11.5% from 13.4%.
BRC chief executive Helen Dickinson said: "Better news for consumers as shop price inflation in August eased to its lowest level since October 2022. This was driven by falling food inflation, particularly for products such as meat, potatoes and some cooking oils. These figures would have been lower still had the Government not increased alcohol duties earlier this month."
In equity markets, distribution specialist Bunzl rose sharply after it upgraded guidance for annual adjusted operating profits as it reported a rise in half-year earnings.
"We now expect adjusted operating profit to be moderately higher than in 2022 at constant exchange rates, with operating margin remaining strong and moderately higher than that achieved in the prior year," it said.
Drinks company Britvic was boosted by an upgrade to 'overweight' at Barclays.
The bank said: "In the wake of Covid and inflation disruption to the implementation of Britvic's new growth strategy, we now see headwinds clearing and identify multiple top-line and margin drivers that can deliver accelerated growth."
Market Movers
FTSE 100 (UKX) 7,424.44 1.17% FTSE 250 (MCX) 18,364.65 1.29% techMARK (TASX) 4,275.43 1.09%
FTSE 100 - Risers
Bunzl (BNZL) 2,822.00p 3.60% Prudential (PRU) 977.80p 3.27% Ocado Group (OCDO) 765.40p 3.18% Persimmon (PSN) 1,016.00p 2.94% Airtel Africa (AAF) 114.00p 2.80% Smurfit Kappa Group (CDI) (SKG) 3,232.00p 2.67% Smith (DS) (SMDS) 300.30p 2.42% Phoenix Group Holdings (PHNX) 517.20p 2.38% Legal & General Group (LGEN) 217.70p 2.35% Johnson Matthey (JMAT) 1,579.00p 2.33%
FTSE 100 - Fallers
B&M European Value Retail S.A. (DI) (BME) 564.20p -0.53% Tesco (TSCO) 260.10p 0.00% Rentokil Initial (RTO) 588.60p 0.20% Haleon (HLN) 328.50p 0.23% Melrose Industries (MRO) 510.00p 0.24% HSBC Holdings (HSBA) 589.30p 0.26% Admiral Group (ADM) 2,397.00p 0.29% Sainsbury (J) (SBRY) 262.70p 0.31% Next (NXT) 6,806.00p 0.38% Compass Group (CPG) 2,028.00p 0.45%
FTSE 250 - Risers
Synthomer (SYNT) 67.45p 6.14% Quilter (QLT) 86.30p 5.57% Mobico Group (MCG) 79.00p 4.77% PureTech Health (PRTC) 193.60p 4.31% Bridgepoint Group (Reg S) (BPT) 174.50p 3.75% Watches of Switzerland Group (WOSG) 569.00p 3.74% Aston Martin Lagonda Global Holdings (AML) 350.40p 3.67% Target Healthcare Reit Ltd (THRL) 71.10p 3.34% Molten Ventures (GROW) 251.00p 3.29% Future (FUTR) 770.50p 3.28%
FTSE 250 - Fallers
Carnival (CCL) 1,107.00p -1.34% Games Workshop Group (GAW) 10,510.00p -1.04% Caledonia Investments (CLDN) 3,355.00p -1.03% Foresight Solar Fund Limited (FSFL) 91.20p -0.55% SDCL Energy Efficiency Income Trust (SEIT) 75.40p -0.53% Capital Gearing Trust (CGT) 4,500.00p -0.33% The European Smaller Companies Trust (ESCT) 152.00p -0.33% Murray International Trust (MYI) 239.00p -0.21% Ithaca Energy (ITH) 144.40p -0.14% Drax Group (DRX) 559.00p -0.11%
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.