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
Europe close: Stocks rise as investors digest US election news
(Sharecast News) - European shares jumped on Monday as investors assessed the impact of US President Joe Biden's decision not to contest the election in November, while Ryanair shares slumped on lower earnings and a warning that summer airfares would be softer. The pan-regional Stoxx 600 index was up 0.93% to 514.79 with all major bourses higher alongside.
Biden on Sunday dropped out of the race to be president and endorsed his running mate and Vice-President Kamala Harris to face Republican nominee Donald Trump.
"Investors have had a weekend to digest the moves in markets last week, when a rotation to small caps finally seemed to be upon us," said Chris Beauchamp, chief market analyst at IG.
"At present there seems to be little impact from Biden's decision to withdraw from the 2024 election, with investors likely waiting for the first real Harris v Trump polls to emerge. Until then, it seems a 'business as normal' mentality prevails, given that Trump is still riding high after the attempt on his life and the Republican convention."
Investors also have eyes on the Federal Reserve's preferred gauge of inflation, the Personal Consumption Expenditures (PCE) index on Friday and a flash reading of second-quarter GDP on Thursday.
In economic news, the People's Bank of China cut short term interest rates by 0.1%.
In equity news, shares in Swiss industrial firm Belimo Holdings gained more than 17% after a guidance upgrade for the full year.
Pest control company Rentokil soared 8% on a report that former BT boss Philip Jansen was plotting a takeover bid.
Ocado shares surged 12% after the online grocer and warehouse tech designer said US grocery giant Kroger ordered two of its latest technology solutions for its existing and future customer fulfilment centres.
Ryanair shares fell 17% after the budget airline said quarterly profit after tax had fallen 46% in the three months to the end of June, and fares will be lower than expected in the summer.
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, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
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.
