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 up after last week's losses
(Sharecast News) - London stocks were set to rise at the open on Monday following heavy losses last week. The FTSE 100 was called to open 32 points higher at 7,910.
CMC Markets analyst Michael Hewson noted that on Friday, the S&P 500 fell sharply but managed to hold above and rebound off its 200-day SMA, even as it fell to a one-month low, with the Nasdaq 100 also rebounding off its 200-day SMA.
"This recovery off key technical supports should offer European markets a modest rebound when they open later this morning, after last week's sharp falls," he said.
"As we look towards a new week, and the end of the month tomorrow, last week's falls have called into question whether markets in Europe can hold onto their February gains, while US markets have already slipped into negative territory for the month, after last week's sharp falls."
In corporate news, Primark owner Associated British Foods lifted full-year guidance as consumer spending proved to be more resilient in the first half and inflationary volatility had eased.
The group said it now expected adjusted operating profit to be broadly in line with the previous financial year after previously forecasting adjusted operating profit below the €1.44bn made in 2021-22.
AB Foods, which also owns sugar, grocery, agriculture and ingredients businesses, said Primark traded "very well" for the half year, with total sales expected to be £4.2bn, up 19% on the same period last year at actual exchange rates. Adjusted operating profit margin for the half was forecast to be above 8%.
International distribution group Bunzl reported a rise in annual earnings, driven by product cost inflation, volume recovery in the first half and growth from acquisitions.
Pre-tax profit for 2022 rose 11.6% to £634.6m, as revenue grew 9.8% at constant exchange rates to £12bn. Shareholders were rewarded with a 10% rise in the total dividend to 62.7p a share.
Bunzl also revealed it had bought a business in Germany and completed the acquisition of another in Canada.
The company said it had signed a deal to buy Arbeitsschutz-Express, an online distributor of workwear and PPE in Germany, which generated €41m (£35m) of revenue last year. It also completed the acquisition of Capital Paper, a Canadian distributor of foodservice packaging and consumables, cleaning & hygiene supplies, and industrial packaging products.
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.