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: Stocks rise as US and UK inflation eases, China data improves
(Sharecast News) - European stock markets rose on Wednesday morning after consumer price data from both the US and UK showed that inflation fell more than expected in October, raising hopes that policymakers may be done with interest-rate hikes for now. The pan-European Stoxx 600 index was up 0.5% at 454.8 by 0828 GMT, with gains across the board, though London's FTSE 100 was outperforming the rest of the continent, jumping 1% early on.
The Office for National Statistics reported that the annual rate of UK inflation dropped to a two-year low of 4.6% last month, substantially lower than the 6.7% growth seen in September and below the 4.8% expected by analysts.
"Overall, the latest inflation numbers should continue to assuage earlier concerns about the stubbornness of UK inflation," said Martin Beck, chief economic advisor to the EY ITEM Club. "They also reinforce the EY ITEM Club's view that the Bank of England will start cutting interest rates from late next spring, sooner than markets currently expect."
The downside surprise followed in the footsteps of US inflation stats out on Tuesday afternoon, which showed that annual inflation eased from 3.7% to 3.2% in October, below market forecasts. The figures saw the S&P 500 and Nasdaq rise 1.9% and 2.4%, the indices' best daily performances since April.
Markets across Asia surged overnight too, after Chinese retail sales and industrial production grew more than predicted in October, jumping 7.6% and 4.6%, respectively. The Hang Seng index rose nearly 4%, while the Nikkei 225 gained 2.5%.
"Reports suggesting that China is contemplating CNY 1 trillion in new funding for the housing market further boosted investor confidence," said analyst Patrick Munnelly of Tickmill Group. "Additionally, the People's Bank of China conducted its largest Medium-term Lending Facility net injection in seven years. The confluence of these factors resulted in a favourable environment for Asia-Pacific stocks, reflecting the impact of global economic data and central bank signals on regional markets."
Siemens Energy and Experian jump
Munich-based energy tech giant Siemens Energy saw shares surge over 7% despite reporting a €4.6bn full-year net loss on Wednesday. The company said it was reviewing the structure of its wind turbine division, Siemens Gamesa, but managed to secure a €12bn credit line from lenders, with the German government providing a loan guarantee.
In London, data services specialist and consumer credit ratings firm Experian delivered a solid set of first-half results with all regions contributing positively to growth, as it reiterated its guidance for the full year. The stock rose 5% despite an in-line set of results. Analysts at Shore Capital said, after the recent warning from sector peer TransUnion which last month reported weak quarterly figures and cut its full-year outlook, Experian's results "will come as a relief to many".
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.