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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

London pre-open: Stocks seen up but quiet day expected

(Sharecast News) - London stocks were set to rise at the open on Monday, but trade was expected to be fairly quiet with US markets closed for a public holiday and little in the way of corporate news to provide any direction.

The FTSE 100 was called to open 22 points higher at 8,026.

CMC Markets analyst Michael Hewson said: "Today looks set to see markets in Europe open modestly higher against a backdrop of continued weakness in energy prices, which is relieving some of the worst case economic scenarios that were being modelled at the end of last year.

"It's also likely to be a relatively subdued session given the absence of the US due to the President's Day holiday."

On the corporate front, retailer Frasers Group said it was starting an £80m share buyback.

Frasers, controlled by Mike Ashley and owner of Sports Direct, said the repurchase would be used to reduce the company's share capital, adding that it would run until April 30.

Elsewhere, cyber security firm Darktrace said it has appointed Ernst & Young to provide an additional independent third-party review of its key financial processes and controls following recent short seller attacks.

Chair Gordon Hurst said: "The board believes fully in the robustness of Darktrace's financial processes and controls.

"As a sign of that confidence, we have commissioned this independent third-party review by E&Y. We look forward to the outcome of this review."

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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.

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