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 pre-open: Stocks seen lower after US, Asian losses
(Sharecast News) - London stocks were set to fall at the open on Wednesday following downbeat sessions in the US and Asia, and after the International Monetary Fund criticised the UK government's tax plan. The FTSE 100 was called to open down around 40 points at 6,945.
Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said "the pound remains under decent selling pressure as Bank of England officials are pushing the can down a very steep road, saying that it's more appropriate to wait five weeks before taking action".
"Meanwhile, the IMF now warns the UK that they do not recommend splashing untargeted fiscal money while inflation remains elevated in the world, and in the UK. They emphasize that it is important that fiscal policy doesn't work at cross purposes to monetary policy," she added.
In corporate news, luxury fashion brand Burberry said that chief creative officer Riccardo Tisci will be stepping down at the end of the month.
Tisci has decided to leave after almost five years, during which he spearheaded Burberry's creative transformation.
Burberry said that under his creative leadership, the company "re-energised its brand image, introducing a new visual identity and reviving the Thomas Burberry Monogram".
Tisci will be succeeded by Daniel Lee, who will join the group on 3 October. Burberry said that Lee - an award-winning designer - will be based at the company headquarters in London and report to chief executive Jonathan Akeroyd.
Elsewhere, manufacturing firm Spirax-Sarco Engineering has agreed to buy US custom electric thermal solutions specialist Durex International in a deal valued at $342.2m.
Spirax-Sarco said it will acquire the group on a cash and debt free basis, with the transaction to be financed through acquisition bank facilities. The FTSE 250 group added that the addition of Durex will be accretive to earnings in 2023.
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.