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; GDP in focus
(Sharecast News) - London stocks were set to rise at the open on Thursday following a positive session on Wall Street, as investors digested data confirming the UK fell into recession last year. The FTSE 100 was called to open around 35 points higher.
Final figures from the Office for National Statistics showed that GDP contracted by 0.3% in the last three months of the year, unrevised from an earlier estimate. This followed a 0.1% contraction in the period from July to September.
Chancellor Jeremy Hunt said in response to the data: "Last year was tough as interest rates had to rise to bring down inflation, but we can see our plan is working.
"Inflation has fallen decisively from over 11% to 3.4%, the economy grew in January and real wages have increased for eight months in a row."
Ashley Webb, UK economist at Capital Economics, said: "Overall, today's data release does not change much. The UK's mild technical recession at the end of last year was as mild as previously thought and the economic recovery is probably already underway.
"And our forecast for inflation to fall further than the consensus and for interest rates to be cut faster and further than current market pricing suggests the economic recovery in 2024 and 2025 will be stronger than most expect."
In corporate news, retailer JD Sports Fashion said it expected full-year profits to be within guidance of £915-935m and said the current year would be "challenging" due to less product innovation and more discounting, but forecast this to moderate with the Paris Olympics and European football finals in the summer.
Keysight Technologies has reached a deal to buy Spirent Communications for £1.16bn, outbidding US peer Viavi Solutions which had already agreed to buy the UK telecoms group earlier this month.
Spirent said it is now recommending a 201.5p-per-share offer from Keysight, which represents a 26.5p or 15% premium to Viavi's offer.
"Accordingly, the Spirent directors have unanimously withdrawn their recommendation of the Viavi offer and intend to adjourn the Viavi offer shareholder meetings," the company said in a statement.
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.