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
London midday: Stocks flatten out as recruiters slump on Hays warning
(Sharecast News) - London stocks had pared gains by midday on Tuesday to trade flat, with recruiters under the cosh after a profit warning from Hays. The FTSE 100 was steady at 7,694.93.
Russ Mould, investment director at AJ Bell, said investors appeared to be "in a holding pattern until we get the next round of [US] inflation and jobs figures which provide the all-important clues as to central bank interest rate decisions".
On home shores, industry data showed that retailers ended 2023 on the back foot despite a modest uptick in demand in the week leading up to Christmas.
According to the latest BRC-KPMG Retail Sales Monitor, UK total sales increased by just 1.7% in the five weeks to 30 December, compared to a 6.9% rise a year previously.
The increase was below the three-month average of 2.3%, and the 12-month average of 3.6%.
December is the most important month of the year for many retailers, as consumers splash out on homewares, presents and festive food.
Helen Dickinson, chief executive of the British Retail Consortium, said there had been a "slight" uptick in the week leading up to Christmas.
But she added: "The festive period failed to make amends for a challenging year of sluggish retail sales growth, as weak consumer confidence continue to hold back spending.
"The post-Christmas sales were unsuccessful in enticing spend in areas such as furniture and homewares, with households remaining cautious about making larger purchases.
"2024 looks to be another challenging year for retailers and their customers, and spending will continue to be constrained by high living costs."
In equity markets, B&M European Value Retail reversed earlier losses to trade up, after it reiterated full-year guidance, declared a special dividend and posted a 5% jump in third-quarter sales.
The discount retailer said it still expects group adjusted EBITDA of between £620m and £630m for FY24, up from £573m a year earlier.
GSK gained as it announced the acquisition of Aiolos, a clinical-stage biopharmaceutical company focused on treatment of respiratory and inflammatory conditions, for up to $1.4bn.
On the downside, recruiter Hays tumbled as it warned on profits after a hiring slowdown in December.
In an update for the three months to the end of December, the company said group net fees were down 10%, having fallen 15% in December.
As a result, and despite ongoing actions to reduce costs, it now expects first-half pre-exceptional operating profit of around £60m, which is below consensus expectations of around £73m.
Fellow recruiters PageGroup and SThree also lost ground.
Jupiter Fund Management suffered heavy losses as it warned that net outflows for 2023 would be higher than expected and announced the departure of veteran portfolio manager Ben Whitmore.
Warhammer maker Games Workshop fell even as it posted a sharp increase in half-year profits driven by the launch of new products and said the company was "in great shape".
Market Movers
FTSE 100 (UKX) 7,694.93 0.01% FTSE 250 (MCX) 19,311.61 -0.42% techMARK (TASX) 4,311.47 0.30%
FTSE 100 - Risers
BAE Systems (BA.) 1,162.50p 1.53% BP (BP.) 467.35p 1.28% Centrica (CNA) 157.40p 1.22% B&M European Value Retail S.A. (DI) (BME) 568.00p 1.10% GSK (GSK) 1,565.40p 1.06% Scottish Mortgage Inv Trust (SMT) 770.40p 1.05% Reckitt Benckiser Group (RKT) 5,564.00p 0.87% Pershing Square Holdings Ltd NPV (PSH) 3,514.00p 0.86% Hikma Pharmaceuticals (HIK) 1,878.00p 0.86% Smith & Nephew (SN.) 1,079.50p 0.84%
FTSE 100 - Fallers
Beazley (BEZ) 532.00p -3.62% JD Sports Fashion (JD.) 115.65p -3.10% Intermediate Capital Group (ICP) 1,575.50p -2.05% Marks & Spencer Group (MKS) 284.80p -1.96% RS Group (RS1) 772.20p -1.83% Kingfisher (KGF) 227.10p -1.73% International Consolidated Airlines Group SA (CDI) (IAG) 149.80p -1.67% Standard Chartered (STAN) 640.60p -1.45% WPP (WPP) 760.40p -1.40% Taylor Wimpey (TW.) 146.30p -1.32%
FTSE 250 - Risers
W.A.G Payment Solutions (WPS) 93.00p 2.65% Harbour Energy (HBR) 302.50p 2.61% Me Group International (MEGP) 130.00p 2.36% Plus500 Ltd (DI) (PLUS) 1,835.00p 2.34% Genus (GNS) 2,182.00p 2.06% Bakkavor Group (BAKK) 86.00p 1.90% Ashmore Group (ASHM) 216.40p 1.88% Bellevue Healthcare Trust (Red) (BBH) 153.00p 1.86% Auction Technology Group (ATG) 480.50p 1.80% Scottish American Inv Company (SAIN) 522.00p 1.75%
FTSE 250 - Fallers
Jupiter Fund Management (JUP) 74.65p -15.65% Hays (HAS) 97.75p -9.24% Pagegroup (PAGE) 446.80p -4.86% SThree (STEM) 395.50p -4.24% Crest Nicholson Holdings (CRST) 219.40p -3.52% Bridgepoint Group (Reg S) (BPT) 257.20p -2.94% FDM Group (Holdings) (FDM) 440.50p -2.76% Darktrace (DARK) 322.40p -2.72% Persimmon (PSN) 1,417.00p -2.54% IP Group (IPO) 54.00p -2.53%
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.