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
FTSE 250 movers: OPEC cuts boost oil stocks; NCC under the pump
(Sharecast News) - FTSE 250: 18,889.07, -0.21% at 1400 GMT. London stocks were still firmly in the black by midday on Monday, with energy heavyweights boosted by surging oil prices.
Over the weekend, OPEC+ unexpectedly announced it would cut oil output by 1.1m barrels a day from next month, pushing oil prices higher.
Danni Hewson, head of financial analysis at AJ Bell, said: "The world needed a spike in oil prices like a hole in the head. Just as one of the pinch points in the global economy had started to ease, Saudi Arabia and its counterparts in OPEC have unveiled a surprise output cut."
"The decision by the oil producers' cartel, unusually taken outside of any officially scheduled meeting, represents a flexing of its muscles and potentially a pre-emptive move as it anticipates a drop-off in crude demand relating to the collapse of SVB and ensuing banking crisis."
"It is this crisis which has helped box central banks in when it comes to their ability to control inflation as they have to think about their role in preserving financial stability too.
"Rising oil prices imply higher costs of energy, transportation and other areas like plastic."
The move boosted Harbour Energy, North Sea producer Ithaca Energy, Tullow Oil and Energean.
Spirent Communications gained after unveiling a £56m share buyback on Monday.
NCC was under the cosh again, having crashed on Friday after a profit warning.
FTSE 250 - Risers
Harbour Energy (HBR) 296.10p 7.91% Hunting (HTG) 251.50p 6.57% Ithaca Energy (ITH) 159.10p 6.42% Tullow Oil (TLW) 33.54p 6.34% Energean (ENOG) 1,367.00p 4.99% Aston Martin Lagonda Global Holdings (AML) 237.00p 3.81% Urban Logistics Reit (SHED) 132.00p 3.13% Warehouse Reit (WHR) 104.80p 2.54% Spirent Communications (SPT) 177.70p 2.54% Wood Group (John) (WG.) 204.60p 2.30%
FTSE 250 - Fallers
NCC Group (NCC) 95.50p -6.56% Man Group (EMG) 222.60p -5.44% Vanquis Banking Group 20 (VANQ) 226.00p -4.72% Wizz Air Holdings (WIZZ) 2,848.00p -4.20% Future (FUTR) 1,120.00p -3.36% Carnival (CCL) 710.40p -3.24% Kainos Group (KNOS) 1,341.00p -2.97% Lancashire Holdings Limited (LRE) 537.50p -2.71% Helios Towers (HTWS) 101.70p -2.59% Telecom Plus (TEP) 1,842.00p -2.54%
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.
