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: Shares up in cautious start as investors eye Middle East crisis
(Sharecast News) - European shares opened cautiously higher on Monday as traders kept a close watch on the war in the Middle East between Israel and the Palestinian militant group Hamas, while weaker Asian markets also hampered sentiment. The pan-European Stoxx 600 index was up 0.6% at 434 in early deals, with major regional bourses mixed. In Asia, China's Shanghai Composite fell 1.47% on continuing worries over the country's struggling property sector and high youth unemployment.
US markets also fell overnight as treasury yields rose in response to the Middle East crisis.
"Escalating tensions in the Middle East and Treasury yields topping 5% for the first time since just prior to the great financial crisis are currently burdens which equity markets are finding difficult to bear," said Interactive Investor head of markets Richard Hunter.
"The ongoing strength of the latter also impacts on the broader economy as it is seen as a benchmark for borrowing levels. As such, both businesses and individuals are impacted and indeed the 30-year mortgage rate in the US reached 8% last week, to levels not seen this century."
"Quite apart from the factors which have been weighing on US markets, Chinese stocks have also come under increasing selling pressure. International investors have been leaving the region given the toxic mix of a beleaguered property sector, ailing consumer sentiment, high youth unemployment and rising geopolitical tensions."
However, there was some respite on the commodities front, with oil prices down more than $1 as diplomatic efforts to stop the Israel-Hamas conflict escalating further eased worries about supplies of crude.
In equity news, shares in Adevinta plunged 10% after reports overnight that private equity firms Blackstone and Permira were reconsidering plans to buy the Norway-based classified advertising company.
Reporting by Frank Prenesti for Sharecast.com
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.