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 open: Stocks nudge up but BAT tumbles after update
(Sharecast News) - London stocks nudged higher in early trade on Wednesday as investors eyed the latest ADP jobs report in the US, but British American Tobacco tumbled after a disappointing update. At 0825 GMT, the FTSE 100 was up 0.1% at 7,497.19.
The ADP report for November is due at 1315 GMT. Before that, the S&P Global/CIPS UK construction PMI for November is at 0930 GMT.
CMC Markets analyst Michael Hewson said: "Today we get a look at the latest ADP payrolls report for November as an appetiser for Friday's non-farm payrolls report. We are starting see increasing evidence that the US jobs market is starting to slow, with vacancies falling to their lowest level since March 2021 and with the last two ADP reports adding a combined 202k new jobs as private sector hiring slows.
"October saw 113k jobs added an improvement on September and November is expected to see an improvement on that to 130k, given that a lot of additional hiring takes place in the weeks leading up to Thanksgiving and the Christmas period so we're unlikely to see any evidence of cracking in the US labour market this side of 2024."
In equity markets, miners were among the top performers on the FTSE 100 as copper prices rose, with Anglo American, Rio Tinto, Glencore and Antofagasta all up.
Ocado jumped to the top of the index after an upgrade to 'neutral' from 'underweight' at JPMorgan.
Weir Group gained after saying it is now targeting £60m in absolute savings by 2026, as part of its goal to reach an operating margin of 20% by the same year. It also confirmed that market conditions and its 2023 guidance remained unchanged, with the company on track to deliver an operating margin of 17%.
Travel giant Tui rallied as it said it expects a 25% rise in operating profit this year after 2023 earnings surged by more than double on the back of strong demand. It also announced a potential move of its stock market listing from London to Frankfurt.
On the downside, tobacco and nicotine giant British American Tobacco was under the cosh as it scaled back expectations for organic growth this year. The company said macroeconomic pressures in the US were impacting its combustibles performance and organic revenues are now expected to grow at the low end of the 3-5% guidance range at constant exchange rates.
BAT said it will take a non-cash adjusting impairment charge of around £25bn relating to some of its US combustibles brands.
Market Movers
FTSE 100 (UKX) 7,497.19 0.10% FTSE 250 (MCX) 18,523.37 0.19% techMARK (TASX) 4,085.20 0.23%
FTSE 100 - Risers
Ocado Group (OCDO) 616.80p 3.14% Weir Group (WEIR) 1,918.50p 2.90% Anglo American (AAL) 2,214.00p 2.74% Rio Tinto (RIO) 5,526.00p 1.96% Glencore (GLEN) 446.15p 1.77% Beazley (BEZ) 554.00p 1.74% Ashtead Group (AHT) 4,817.00p 1.73% Antofagasta (ANTO) 1,441.50p 1.69% Endeavour Mining (EDV) 1,809.00p 1.34% M&G (MNG) 209.80p 1.21%
FTSE 100 - Fallers
British American Tobacco (BATS) 2,338.50p -5.99% Diageo (DGE) 2,779.50p -1.17% Melrose Industries (MRO) 532.40p -0.71% BP (BP.) 469.15p -0.58% Spirax-Sarco Engineering (SPX) 9,210.00p -0.56% Barratt Developments (BDEV) 523.20p -0.53% WPP (WPP) 714.80p -0.53% Entain (ENT) 791.00p -0.48% Unilever (ULVR) 3,785.50p -0.43% BAE Systems (BA.) 1,040.00p -0.43%
FTSE 250 - Risers
TUI AG Reg Shs (DI) (TUI) 545.50p 6.54% Dr. Martens (DOCS) 100.30p 4.86% Redde Northgate (REDD) 376.00p 4.59% Discoverie Group (DSCV) 730.00p 3.84% Baltic Classifieds Group (BCG) 215.00p 3.61% AJ Bell (AJB) 269.00p 2.67% Ferrexpo (FXPO) 74.15p 2.49% Ibstock (IBST) 135.20p 2.42% Mitchells & Butlers (MAB) 234.00p 2.36% PZ Cussons (PZC) 150.20p 2.32%
FTSE 250 - Fallers
Ceres Power Holdings (CWR) 172.20p -4.60% Premier Foods (PFD) 127.00p -2.76% Diversified Energy Company (DEC) 1,305.40p -2.47% Keller Group (KLR) 800.00p -2.44% Marshalls (MSLH) 242.60p -2.26% Shaftesbury Capital (SHC) 120.50p -2.03% Jupiter Fund Management (JUP) 82.55p -2.02% Trainline (TRN) 285.20p -1.93% Primary Health Properties (PHP) 97.45p -1.86% Balanced Commercial Property Trust Limited (BCPT) 68.50p -1.86%
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.