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 muted as investors mull earnings data
(Sharecast News) - London stocks were set for a muted open on Tuesday as investors mulled the latest UK earnings data and continued to eye developments in the Middle East. The FTSE 100 was called to open unchanged at 7,630.
CMC Markets analyst Michael Hewson said: "European markets started the week cautiously higher in the absence of an escalation of tensions over the weekend, although you can be sure that investors will be keeping a wary eye on events in the Middle East as Israel weighs its next move.
"US markets followed suit with slightly more enthusiasm and a much stronger session, despite a sharp rise in US 10-year yields, while the US dollar and gold both slipped back.
"This resilience continued this morning as Asia markets also pushed higher while markets here in Europe look set for a flat open as investors gear up for a longer lead up time to a possible Gaza incursion and an extended conflict."
On home shores, data released earlier by the Office for National Statistics showed that average earnings excluding bonuses rose 7.8% in the three months to August versus a year earlier, down from upwardly-revised 7.9% growth the month before. Economists were expecting growth to be unchanged at 7.8%.
Total earnings including bonuses eased to 8.1% growth from 8.5%, versus consensus expectations of 8.3%.
In corporate news, engine maker Rolls-Royce said it plans to cut up to 2,500 jobs worldwide as part of a plan to streamline the organisation.
The company, which currently employs 42,000 worldwide, said the engineering technology & safety segments will come together as a single team across the group, responsible for product safety, engineering standards, process, methods and tools.
"It will also enable engineering talent and technology to be used more effectively across the business," Rolls-Royce said.
Elsewhere, price comparison website Moneysupermarket.com said it saw growth accelerate in the third quarter due to high levels of switching in car and home insurance, offsetting the impact of higher interest rates on loan and funding activities.
The company said that it remains confident of hitting full-year expectations, with the consensus forecast for adjusted EBITDA at £129.5m for 2023 financial year, up from £115.5m in 2022.
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.