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 as UK inflation ticks higher
(Sharecast News) - London stocks were set to fall at the open on Wednesday following downbeat sessions in the US and Asia, as investors mulled the latest UK inflation figures. The FTSE 100 was called to open 53 points lower at 7,505.
CMC Markets analyst Michael Hewson said: "The weak finish in the US looks set to see European markets open lower in the wake of a softer Asia session after China Q4 GDP came in slightly short of expectations at 1%.
"The other metrics for industrial production were slightly better for December, rising 6.8% while retail sales slowed from 10.1% to 7.4%, falling short of forecasts of 8%."
On home shores, data released earlier by the Office for National Statistics showed that consumer price inflation unexpectedly rose in the year to December.
The consumer price index ticked up to 4% from 3.9% in November, versus expectations for a drop to 3.8%. This was driven by a rise in alcohol and tobacco prices and marked the first jump in inflation since February 2023.
In corporate news, BP named its former chief financial officer Murray Auchincloss as its permanent chief executive, after having served in an interim capacity for the past four months.
Auchincloss, who has been part of BP since its merger with Amoco in 1998, had been CFO since July 2020 until September 2023 when he took over the helm following the abrupt departure of former CEO Bernard Looney, who resigned after failing to disclose personal relationships with colleagues.
BP announced that, after a long search for internal and external successors to Looney, Auchincloss has been appointed as ongoing CEO with immediate effect.
Pearson reported a strong 2023 financial performance in an update, with a 5% increase in underlying group sales.
The company's adjusted operating profit was £570m to £575m, a more than 30% increase compared to 2022, resulting in a margin of around 15.5%. It attributed the success to a strong performance in assessment and qualifications, English language learning, cost efficiency measures, and the expansion of generative AI study tools, along with Pearson+ surpassing one million paid subscriptions in the calendar year.
Building products supplier Ibstock said it was confident in its medium-term prospects, despite subdued residential construction markets, as fourth-quarter trading was in line with expectations.
Full-year revenues are expected to have fallen by 21% to around £405m, with adjusted core earnings in line with guidance.
"Trading in the final quarter in line with our expectations, underpinned by cost reduction action and stable pricing, with market conditions remaining subdued," Ibstock said in a trading statement.
"Against this backdrop, while the pace of cost inflation has continued to moderate, it remains a feature, with some modest year-on-year inflation expected to be largely covered by pricing action."
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.