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
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 up but off highs; miners rally
(Sharecast News) - London stocks were off earlier highs but still in the black by midday on Friday amid hopes a US debt ceiling deal will be done, as investors mulled better-than-expected UK retail sales data. The FTSE 100 was up 0.2% at 7,584.09.
Sentiment was boosted after it was reported that US President Joe Biden and Republican House speaker Kevin McCarthy have moved closer to a two-year deal to limit government spending and avert a US debt default.
The Financial Times cited people familiar with the potential agreement as saying that negotiators were looking to finalise the deal in the coming days, ahead of a looming deadline of 1 June when the US could run out of cash to pay all of its financial obligations.
It was understood that over the course of the day on Thursday, both the White House and Republicans on Capitol Hill suggested the talks were in a better place, though nothing had been concluded.
On home shores, figures out earlier from the Office for National Statistics showed that retail sales rose more than expected in April as shoppers returned to the high street.
Retail sales increased by 0.5% following a 1.2% decline in March. This was ahead of analysts' expectations of 0.3% growth.
Food store sales volumes were 0.7% higher, while non-food store sales were up 1%. Other store and department store sales rose 2.1% on the month and 1.7%, respectively.
ONS Chief Economist Grant Fitzner said: "Retail sales grew, partially rebounding from a poor weather affected March, with jewellers, sports retailers and department stores all having a good month. Despite continued high food prices, supermarkets also recovered from the fall in March.
"However, these were partly offset by a drop in the amount of fuel sold, despite prices also dropping."
In equity markets, heavily-weighted miners were the top performers as metals prices rose, with Rio Tinto, Antofagasta, Anglo American and Glencore all up.
Elsewhere, AstraZeneca was a touch firmer after it said results from a Phase III trial showed its Imfinzi treatment in combination with chemotherapy showed a significant improvement in patients with endometrial cancer.
On the downside, IAG flew lower after British Airways cancelled at least 50 Heathrow flights at the start of the Bank holiday weekend due to a computer problem affecting online check-in.
Halfords was hit by a downgrade to 'sector perform' from 'outperform' at RBC Capital Markets.
Market Movers
FTSE 100 (UKX) 7,584.09 0.17% FTSE 250 (MCX) 18,789.70 -0.27% techMARK (TASX) 4,571.94 -0.20%
FTSE 100 - Risers
Rio Tinto (RIO) 4,943.00p 3.89% Antofagasta (ANTO) 1,388.50p 2.85% Anglo American (AAL) 2,324.00p 2.51% Glencore (GLEN) 426.65p 2.46% Endeavour Mining (EDV) 2,008.00p 2.14% Mondi (MNDI) 1,286.50p 1.38% Centrica (CNA) 117.85p 1.38% Fresnillo (FRES) 661.40p 1.35% Coca-Cola HBC AG (CDI) (CCH) 2,419.00p 1.17% M&G (MNG) 194.25p 1.15%
FTSE 100 - Fallers
Vodafone Group (VOD) 78.56p -3.08% Frasers Group (FRAS) 667.00p -2.41% Kingfisher (KGF) 228.30p -2.02% Taylor Wimpey (TW.) 115.60p -1.53% International Consolidated Airlines Group SA (CDI) (IAG) 155.30p -1.52% Barratt Developments (BDEV) 470.80p -1.42% Convatec Group (CTEC) 206.40p -1.24% Legal & General Group (LGEN) 225.20p -1.23% Barclays (BARC) 155.06p -1.22% Tesco (TSCO) 262.30p -1.02%
FTSE 250 - Risers
Tullow Oil (TLW) 26.04p 6.03% Baltic Classifieds Group (BCG) 170.00p 3.41% Harbour Energy (HBR) 238.20p 2.28% Kainos Group (KNOS) 1,264.00p 2.27% UK Commercial Property Reit Limited (UKCM) 52.10p 2.16% Bridgepoint Group (Reg S) (BPT) 219.20p 1.67% AJ Bell (AJB) 320.40p 1.46% Schroder Oriental Income Fund Ltd. (SOI) 255.00p 1.39% Balanced Commercial Property Trust Limited (BCPT) 81.00p 1.38% PureTech Health (PRTC) 228.00p 1.33%
FTSE 250 - Fallers
Darktrace (DARK) 269.80p -7.60% Dr. Martens (DOCS) 159.20p -4.67% IntegraFin Holding (IHP) 265.40p -4.12% Pets at Home Group (PETS) 345.80p -3.30% Bakkavor Group (BAKK) 92.00p -2.95% Paragon Banking Group (PAG) 485.40p -2.53% Synthomer (SYNT) 99.95p -2.49% ASOS (ASC) 408.40p -2.32% Indivior (INDV) 1,455.00p -2.28% WH Smith (SMWH) 1,547.00p -2.15%
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 | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | 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.