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
FTSE 100 movers: Burberry tumbles on profit warning; miners in the red
(Sharecast News) - London's FTSE 100 was down 0.8% at 8,183.33 in afternoon trade on Monday. Luxury goods maker Burberry tumbled as it ousted its chief executive, suspended dividend payments and issued a profits warning after a slump in first-quarter revenues due to weak demand in all markets.
Chris Beauchamp, chief market analyst at online trading platform IG, said: "This is a kitchen sink exercise par excellence, and underscores the enormity of the challenge facing Burberry in a world where Chinese sales can no longer be taken for granted.
"However, as one of the more heavily-shorted FTSE shares, and trading at 11 times earnings, perhaps today might see at least a short-term pop for the share price, on the basis that most of the bad news is now firmly in the price."
Retailers more generally were under the cosh, with Marks & Spencer, Sports Direct owner Frasers Group and B&M all trading lower. B&M was also in focus ahead of a first-quarter trading update on Tuesday.
Miners were also in the red, with Antofagasta and Anglo American both down after data showed than China's economy grew less than expected in the second quarter.
Growth slowed to 4.7% year-on-year in Q2 from 5.3% in the first quarter, missing expectations of 5.1% growth.
FTSE 100 - Risers
Smurfit Westrock (DI) (SWR) 3,741.00p 2.21% 3i Group (III) 3,046.00p 0.99% BAE Systems (BA.) 1,279.50p 0.91% Smith (DS) (SMDS) 424.20p 0.81% Ashtead Group (AHT) 5,264.00p 0.80% Hikma Pharmaceuticals (HIK) 1,850.00p 0.71% Barclays (BARC) 223.50p 0.47% Darktrace (DARK) 578.20p 0.45% InterContinental Hotels Group (IHG) 8,344.00p 0.34% International Consolidated Airlines Group SA (CDI) (IAG) 174.40p 0.23%
FTSE 100 - Fallers
Burberry Group (BRBY) 725.00p -18.23% Frasers Group (FRAS) 831.00p -5.03% Antofagasta (ANTO) 2,117.00p -4.85% Marks & Spencer Group (MKS) 300.30p -3.00% JD Sports Fashion (JD.) 112.40p -2.89% Croda International (CRDA) 3,958.00p -2.85% SSE (SSE) 1,818.00p -2.73% Anglo American (AAL) 2,335.00p -2.55% Smith & Nephew (SN.) 1,073.00p -2.45% B&M European Value Retail S.A. (DI) (BME) 437.40p -2.43
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 | Security | 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.
