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
FTSE 100 movers: StanChart and Prudential rally on China news
(Sharecast News) - London's FTSE 100 was up 0.1% at 7,497.75 in afternoon trade on Tuesday. Asia-focused Standard Chartered and Prudential rallied following a report that Chinese authorities are considering a package of measures aimed at stabilising the stock markets.
According to Bloomberg, policymakers are looking to mobilise about 2 trillion yuan, mainly from the offshore accounts of Chinese state-owned enterprises, as part of a stabilisation fund to buy shares onshore through the Hong Kong exchange link.
Prudential also got a lift as JPMorgan Cazenove reiterated its 'overweight' rating on the shares, saying concerns about the stock reflect fear rather than fundamentals.
The bank noted that Prudential is trading at a valuation last seen saw at the start of the pandemic, when one of its main markets, Hong Kong, saw a closure of a vast proportion of its business, and at a time when there was deep investor scepticism about the separation of its US life insurance business.
"This largely reflects concern about the Chinese economy, as well as a number of other factors such as the growth outlook, asset and capital risk," it said. "However, we think many of these concerns reflect fear rather than fundamentals."
Miners Anglo American and Rio Tinto were also boosted by the news on China.
FTSE 100 - Risers
Ocado Group (OCDO) 583.00p 3.81% Standard Chartered (STAN) 600.20p 3.38% Anglo American (AAL) 1,795.40p 2.52% Prudential (PRU) 813.00p 2.08% International Consolidated Airlines Group SA (CDI) (IAG) 147.80p 1.93% WPP (WPP) 741.60p 1.87% Rio Tinto (RIO) 5,385.00p 1.83% Smurfit Kappa Group (CDI) (SKG) 2,930.00p 1.74% St James's Place (STJ) 659.40p 1.67% JD Sports Fashion (JD.) 116.60p 1.66%
FTSE 100 - Fallers
Rolls-Royce Holdings (RR.) 301.50p -2.40% CRH (CDI) (CRH) 5,442.00p -1.84% Compass Group (CPG) 2,126.00p -1.80% Admiral Group (ADM) 2,513.00p -1.80% British American Tobacco (BATS) 2,296.50p -1.63% Unite Group (UTG) 992.00p -1.49% London Stock Exchange Group (LSEG) 9,070.00p -1.48% Haleon (HLN) 319.25p -1.47% AstraZeneca (AZN) 10,436.00p -1.45% InterContinental Hotels Group (IHG) 7,394.00p -1.28%
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.
