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 pre-open: Stocks seen down ahead of US inflation; UK jobs data in focus
(Sharecast News) - London stocks were set to fall at the open on Tuesday as investors eyed the latest US inflation reading and mulled UK jobs data.
The FTSE 100 was called to open down around 10 points at 7,416.
Figures released earlier by the Office for National Statistics showed that wage growth eased in the three months to September, but earnings growth outstripped inflation, while the unemployment rate was unchanged.
Average wage growth including bonuses fell to 7.9 cent from an upwardly-revised 8.2.% the month before. This compares to inflation of 6.7%. Economists were expecting wage growth including bonuses to fall to 7.4%.
Excluding bonuses, wage growth eased to 7.7% in the three months to September, from 7.8%. The unemployment rate was steady at 4.2%.
ONS director of economic statistics, Darren Morgan, said: "Our labour market figures show a largely unchanged picture, with the proportions of people who are employed, unemployed or who are neither working nor looking for a job all little changed on the previous quarter.
"The number of job vacancies fell for the 16th straight month. Nevertheless, vacancies still remain well above their pre-pandemic levels.
"With inflation easing in the latest quarter, real pay is now growing at its fastest rate for two years."
Looking ahead to the rest of the day, market participants were awaiting the release of the US consumer price index for October at 1330 GMT.
Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said: "For today, an inflation read in line with expectations, or ideally softer than expected, should give further support to the Federal Reserve (Fed) doves, cement the idea that the Fed is done hiking the interest rates and boost the rate cut expectations for next year.
"A read above expectations should bring Fed hawks back to the market and increase the bets of a rate hike in December. But activity on Fed funds futures gives around 85% chance for a no rate hike in the Fed's December meeting, and the inflation numbers must look very bad to reverse that expectation."
In corporate news, Vodafone Group reported 4.2% growth in first-half group service revenue, driven by Europe and Africa, while Germany and Vodafone Business also saw positive growth.
However, group revenue declined by 4.3% due to foreign exchange rate fluctuations and prior-year business disposals, leading to a 44.2% plunge in operating profit. It reiterated its full-year guidance for "broadly flat" adjusted EBITDA of around €13.3bn and about €3.3bn in adjusted free cash flow, and declared an interim dividend per share of 4.5 euro cents.
Tobacco and vaping giant Imperial Brands announced that full-year revenues were flat as lower tobacco volumes were offset by strong growth in next-generation products (NGP).
Reported revenues for the 12 months to 30 September totalled £32.5bn, down 0.2% year-on-year. Tobacco and NGP net revenue grew +1.4% at constant currency when excluding Russian operations in the prior-year comparator after Imperial's exit from the region in April 2022. This comprised 0.7% growth in tobacco and 26.4% from NGP.
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.