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
Europe midday: Shares extend gains as EZ industrial output rebounds
(Sharecast News) - European shares extended morning gains on Monday despite increased tensions in the Middle East after Iran fired drones and missiles at Israel on Saturday in retaliation for what it claimed was an Israeli attack on its consulate in Syria on April 1. The pan-regional Stoxx 600 index was up 0.39% to 507.24. Britain's FTSE 100 was the only outlier, down 0.43%. Investors are also looking for clues from the US Federal Reserve after hotter-than-expected inflation data last week.
''The week is starting on a fraught note, with unease still clouding sentiment. Investors are on alert for retaliatory action following Iran's attack on Israel. Fears are brewing that a dangerous new episode of escalating conflict is about to roll," said Hargreaves Lansdown analyst Susannah Streeter.
"All eyes are on diplomatic efforts being made to diffuse the situation which have helped bring down a spike in oil prices."
Energy producers BP, Shell and Equinor were in the red as fears of a surge in the crude price dissipated.
In economic news, industrial output in the eurozone rebounded slightly in February after a significant downturn the month before, according to figures released on Monday by Eurostat.
Seasonally adjusted industrial production was up 0.8% over the month, following a 3.0% drop in January, which was revised up from the initial reading of -3.2%. The reading was in line with economists' projections.
Brent crude was close to $90 a barrel as investors fretted about supply threats if the Israel/Iran situation escalated.
In equity news, Temenos shares surged 21% after the Swiss software firm said a company-commissioned report concluded that allegations made by short seller Hindenburg Research were incorrect.
The committee found the Hindenburg report, which wiped almost a third off the company's value in February, "presented purported facts about Temenos in a distorted manner or out of context".
Shares in Ageas rose more than 3% after French lender BNP Paribas agreed to buy a 9% stake in the Belgian insurer, its long-time partner, from China's Fosun Group for around €730m.
Reporting by Frank Prenesti for Sharecast.com
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.