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
Europe midday: Stocks little changed as investors bide their time ahead of US jobs data
(Sharecast News) - European markets were mostly heading higher on Thursday, following strong gains on Wall Street and Asian indices overnight, as bond yields retreated from their recent highs. Worth noting, investors were expectant ahead of the release of the monthly U.S. non-farm payrolls data the next day, which might decide whether the selling pressure on bonds abated or not in the very near term.
By 1206 BST, the Stoxx 600 index was up just 0.3% at 441.32.
Most of the main regional indices were a tad higher alongside save for the French Cac-40 which was off by 0.01% to 6,996.18.
The Stoxx 600 index has fallen for seven out of the past ten trading sessions, dropping 4.2% during that period.
Front dated Brent was off by 1.42% to $84.39 a barrel on the ICE.
German and Italian 10-year government bond yields were little changed but those on similarly-dated Spanish debt were down slightly.
"Markets are constantly exhibiting forward-looking behaviour, and for today, it could simply be a case where folks are starting to think that bond vigilantes are wearing out their welcome," said Stephen Innes, managing partner at SPI Asset Management.
"The US labour market is set to remain in the spotlight today, as well as tomorrow when we get the September non-farm payrolls report, which after yesterday's slowdown in the ADP numbers, could set the seal on another rate hike in November, or keep markets guessing ahead of next week's CPI report," chipped in analyst Michael Hewson from CMC Markets.
In European economic data on Thursday, the HCOB Eurozone construction purchasing managers' index pointed to a further marked deterioration at the end of the third quarter, with new business sales dropping to their lowest level since May 2020. The PMI rose slightly to 43.6 in September from 43.4 in August but remained firmly in negative territory (ie under 50).
French industrial output declined by 0.3% in August after a revised -0.5% in July, but the decline in Spanish industrial output worsened to 0.8% from a revised +0.1% in July.
Meanwhile, the German trade surplus fell to €16.6bn in August, down from a revised €17.7bn in July but above the €15bn forecast.
In stock movements, oil and gas stocks were out of favour after the dramatic drop in crude prices on Wednesday, with BP, Shell, TotalEnergies and Repsol all registering losses.
Shares in Pandora surged in Copenhagen after the Danish jewellery group said it expects organic growth of 7-9% from 2023 to 2026.
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.