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
Guides
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
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 stay up as EY Item Club lifts growth forecasts
(Sharecast News) - London stocks were still a little firmer by midday on Monday, having taken their opening cue from solid gains on Wall Street at the end of last week, with an upbeat report from EY Item Club helping to underpin the mood. The FTSE 100 was up 0.2% at 7,473.67.
Russ Mould, investment director at AJ Bell, said: "A strong session last Friday for Wall Street saw the S&P 500 hit a new record high and that positivity extended to Europe at the start of the new trading week."
On home shores, EY Item Club said that a quicker-than-expected drop in inflation was expected to support UK growth in 2024 and beyond, as it upgraded its economic projections for the next two years.
According to the EY ITem Club's new Winter Forecast, the UK's "prolonged period of economic stagnation" should begin to ease this year as slowing inflation, interest rate cuts and tax reductions give the economy momentum in 2024 and 2025.
The economic forecasting group is now predicting 0.9% and 1.8% GDP growth in 2024 and 2025, up from October's estimates of 0.7% and 1.7%, respectively.
Meanwhile, inflation - which averaged 7.3% in 2023 - is now expected to average 2.4% in 2024, lower than the 2.9% predicted in the Autumn Forecast, "suggesting a more positive outlook for real household incomes", EY Item Club said. Inflation is expected to reach the Bank of England's 2% target by May.
Martin Beck, EY Item Club's chief economic advisor, said: "Although it remains possible that the UK may have slipped into a technical recession in Q4 2023, the mood music around the economy is justifiably improving."
In equity markets, Ladbrokes owner Entain and 888 Holdings both gained after La Francaise des Jeux made a €2.45bn offer for Swedish online gaming firm Kindred.
Bodycote rallied as the thermal processing specialist said it would start a $60m share buyback programme after spending less than planned on acquisitions.
Caterer Compass Group nudged lower after agreeing to buy rival CH&CO in a £475m deal.
Endeavour Mining fell after saying it achieved production guidance in 2023 but that costs were higher than expected.
In broker note action, Segro was boosted by an upgrade to 'buy' from 'neutral' at Citi, while Sage was knocked lower by a downgrade to 'underweight' from 'equalweight' at Barclays.
Market Movers
FTSE 100 (UKX) 7,473.67 0.16% FTSE 250 (MCX) 19,018.20 0.78% techMARK (TASX) 4,337.01 0.19%
FTSE 100 - Risers
Entain (ENT) 943.00p 2.86% Persimmon (PSN) 1,474.00p 2.50% Barclays (BARC) 144.54p 2.48% Melrose Industries (MRO) 590.80p 2.32% Pershing Square Holdings Ltd NPV (PSH) 3,696.00p 2.10% Rightmove (RMV) 539.80p 2.08% NATWEST GROUP (NWG) 212.20p 2.02% Auto Trader Group (AUTO) 726.80p 1.96% Barratt Developments (BDEV) 534.20p 1.95% Lloyds Banking Group (LLOY) 43.48p 1.91%
FTSE 100 - Fallers
Endeavour Mining (EDV) 1,358.00p -1.81% Rio Tinto (RIO) 5,289.00p -1.67% Glencore (GLEN) 406.10p -1.50% SSE (SSE) 1,733.00p -1.37% GSK (GSK) 1,545.40p -1.16% Reckitt Benckiser Group (RKT) 5,524.00p -1.00% Smurfit Kappa Group (CDI) (SKG) 2,898.00p -0.75% Mondi (MNDI) 1,401.50p -0.71% Haleon (HLN) 326.25p -0.68% Sage Group (SGE) 1,146.00p -0.52%
FTSE 250 - Risers
Bodycote (BOY) 623.00p 4.53% Babcock International Group (BAB) 446.20p 3.77% OSB Group (OSB) 418.60p 3.67% Trustpilot Group (TRST) 170.00p 3.47% International Distributions Services (IDS) 254.40p 3.46% Wood Group (John) (WG.) 174.00p 3.20% Mobico Group (MCG) 86.00p 3.06% Just Group (JUST) 87.50p 2.82% Ferrexpo (FXPO) 82.95p 2.72% Vistry Group (VTY) 933.50p 2.47%
FTSE 250 - Fallers
Fidelity China Special Situations (FCSS) 186.00p -2.41% RHI Magnesita N.V. (DI) (RHIM) 3,290.00p -1.97% Scottish American Inv Company (SAIN) 501.00p -1.96% Sequoia Economic Infrastructure Income Fund Limited (SEQI) 82.70p -1.55% Abrdn (ABDN) 175.80p -1.54% Johnson Matthey (JMAT) 1,564.50p -0.82% Worldwide Healthcare Trust (WWH) 310.50p -0.80% International Public Partnerships Ltd. (INPP) 127.40p -0.78% Templeton Emerging Markets Inv Trust (TEM) 142.60p -0.70% Harbour Energy (HBR) 285.40p -0.70%
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, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
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.