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 pre-open: Stocks seen lower as investors mull GDP data
(Sharecast News) - London stocks were set to fall at the open on Friday following a downbeat session on Wall Street, as investor mull the latest UK GDP data. The FTSE 100 was called to open 26 points lower at 7,885.
Figures out earlier from the Office for National Statistics showed the UK narrowly avoided a technical recession at the end of last year, after the economy stagnated in the last quarter of 2022.
GDP fell 0.5% in December following growth of 0.1% in November and 0.55% in October. December's print was dragged down by a 0.8% decline in the services sector, which recorded falls in health, education, transport and storage, arts and entertainment.
However, it was not enough to push the quarterly data into negative territory, and GDP was 0.0% in the three months to December, following a decline of 0.3% in November.
The definition of a recession is two consecutive quarters of contraction.
Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, said: "While the absence of an official label will be seen as a victory, there's an argument to say the can has simply been kicked further down the road. The ramifications for consumers are also tough: around 7m households are still expected to struggle to pay energy and food bills, technical recession or not."
In corporate news, FirstGroup said it had been granted a two-year extension for its South Western Railway franchise, by the UK government.
The contract, which began in May 2021, will now run until May 25 2025 on existing terms, the company said.
Drugmaker GSK's mismatch repair-deficient recurrent or advanced endometrial cancer treatment has been granted full approval by the US Food and Drug Administration.
GSK said Jemperli's approval comes hot on the heels of long-term outcome results from its GARNET phase I trial, which demonstrated an overall response rate of 45.4%.
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.