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 open: Stocks nudge lower; Diploma surges on acquisition
(Sharecast News) - London stocks nudged lower in early trade on Wednesday following a slightly weaker close on Wall Street. At 0825 GMT, the FTSE 100 was down 0.1% at 7,925.25.
Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "Caution continues to reign after another day of decline on Wall Street with the FTSE 100 not expected to make significant moves in early trade.
"Many investors seem a little wary as New York indices hang near record levels, trade tensions between the US and China bubble and key data out on Friday threatens to show US inflation is still stubborn."
In equity markets, Diploma shot to the top of the FTSE 100 after saying it had bought Peerless Aerospace Fastener, a distributor of specialty fasteners into the US and European aerospace markets, for £236m.
DS Smith - which recently agreed to be taken over by Mondi - also racked up strong gains after confirming late on Tuesday that it was in talks with New York-listed International Paper about a possible takeover offer.
Under the terms of the proposal, DS Smith shareholders would receive 0.1285 shares in International Paper for each of theirs, meaning they would own around 33.8% of the combined entity.
Based on International Paper's share price of $40.85 at the close on Monday, this represents 415p and a premium of 45% to the closing DS Smith share price on 7 February, which was the last day before the start of the offer period with Mondi.
BA and Iberia owner IAG flew higher as JPMorgan Cazenove placed the shares on 'positive catalyst watch' ahead of first-quarter results.
It said the Q1 results could be a catalyst to spur consensus 2024E EBIT upgrades on the stock, given a more positive pricing backdrop both for Q1 and into the summer.
CMC Markets surged after saying that FY 2024 net operating income was set to exceed the top end of the previously-guided range of £290m to £310m as positive momentum continued into the fourth quarter after a strong performance in Q3.
North Sea oil and gas producer Ithaca Energy was higher after saying it was looking at a potential tie-up with Italy's Eni covering its UK assets. It also reported a slump in annual profits, blaming the British government's energy tax and project impairments.
Elsewhere, Travis Perkins was in the black as it said chief executive Nick Roberts was stepping down from his position and the company's board after serving for five years.
On the downside, TI Fluid Systems slumped after BC Omega Holdco sold 50m ordinary shares in the company in a placing. BC Omega Holdco is an entity indirectly controlled by investment funds advised by Bain Capital, LP or its affiliates.
Market Movers
FTSE 100 (UKX) 7,925.25 -0.07% FTSE 250 (MCX) 19,771.38 -0.03% techMARK (TASX) 4,519.97 0.02%
FTSE 100 - Risers
Diploma (DPLM) 3,718.00p 8.52% Smith (DS) (SMDS) 385.70p 7.20% Sainsbury (J) (SBRY) 269.60p 2.70% International Consolidated Airlines Group SA (CDI) (IAG) 168.90p 1.75% Associated British Foods (ABF) 2,512.00p 1.58% Mondi (MNDI) 1,413.00p 1.29% Reckitt Benckiser Group (RKT) 4,400.00p 1.10% SSE (SSE) 1,628.00p 0.93% AstraZeneca (AZN) 10,524.00p 0.80% JD Sports Fashion (JD.) 115.10p 0.79%
FTSE 100 - Fallers
Flutter Entertainment (DI) (FLTR) 16,700.00p -2.31% Ocado Group (OCDO) 457.40p -2.12% Smiths Group (SMIN) 1,665.00p -1.48% HSBC Holdings (HSBA) 619.60p -1.23% NATWEST GROUP (NWG) 260.20p -0.84% BP (BP.) 495.65p -0.83% Kingfisher (KGF) 247.90p -0.76% Shell (SHEL) 2,629.00p -0.68% Croda International (CRDA) 4,819.00p -0.60% Entain (ENT) 789.20p -0.58%
FTSE 250 - Risers
Petershill Partners (PHLL) 193.80p 2.54% Premier Foods (PFD) 152.80p 2.41% Genuit Group (GEN) 447.50p 2.29% Pennon Group (PNN) 663.00p 2.16% Ithaca Energy (ITH) 145.20p 2.11% Keller Group (KLR) 1,080.00p 2.08% Balfour Beatty (BBY) 390.20p 1.99% FirstGroup (FGP) 187.20p 1.74% Hays (HAS) 96.00p 1.69% Playtech (PTEC) 478.80p 1.44%
FTSE 250 - Fallers
TI Fluid Systems (TIFS) 142.60p -15.72% W.A.G Payment Solutions (WPS) 64.00p -3.03% Volution Group (FAN) 422.20p -2.22% Wood Group (John) (WG.) 135.30p -1.89% 4Imprint Group (FOUR) 6,170.00p -1.75% SDCL Energy Efficiency Income Trust (SEIT) 59.30p -1.66% Hipgnosis Songs Fund Limited NPV (SONG) 61.00p -1.61% BlackRock Greater Europe Inv Trust (BRGE) 628.00p -1.57% Hill and Smith (HILS) 1,926.00p -1.53% Tritax Eurobox (GBP) (EBOX) 51.90p -1.52%
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.