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 open: Markets advance as banks provide a lift
(Sharecast News) - European equities advanced on Friday morning on a quiet day for economic data and corporate earnings, with banking stocks across the continent providing a lift. The Stoxx 600 was up 0.7% early on, with broad-based gains across London, Frankfurt, Paris, Milan and Madrid
Economic data was relatively thin on the ground on Friday with UK retail sales the only major release.
Sales declined by 0.3% in October after a revised 1.1% drop the previous month with volumes dropping to their lowest since February 2021. Analysts were expecting a 0.3% gain.
Eurozone inflation figures are due out at 1000 GMT, but as secondary estimates are not expected to be market-moving. Headline annual inflation is predicted to be unchanged from the initial estimates at 2.9% for October, which was down from 4.3% in September. Core inflation should be in line with the initial estimate at 4.2%, down from 4.5% the previous month.
Oil prices were holding steady after a huge tumble on Thursday on the back of reports of higher supply in the US and weak demand from China. Brent crude dropped over 4% to $77.42 a barrel, and was trading flat early on Friday.
In stock movements, banks across the continent were performing well early on, with BNP Paribas, Societe Generale, HSBC, Barclays, Bankinter and Banca Monte dei Paschi di Siena all putting in decent gains.
Oil stocks were mixed after heavy falls the previous session as crude prices slid. Shell was flat, TotalEnergies was firmly lower, while Repsol and BP gained.
Burberry edged higher after an 11% drop on Thursday after warning about a luxury slowdown, with sales falling in China. LVMH, Hermes, Christian Dior, Moncler and Kering, which all declined the previous session, were also bouncing back slightly on Friday morning.
Siemens AG was also higher, extending gains after delivering record fourth-quarter results on Thursday.
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.