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
Guides
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Shares
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 open: Shares up ahead of US earnings; Reckitt slumps on lawsuits
(Sharecast News) - European shares started the week sharply higher ahead of earnings from US tech giants later in the week and a policy decision from the US Federal Reserve. The pan-regional Stoxx 600 index was up 0.46% to 515.46 in early deals. Apple, Microsoft, Amazon and Meta are all scheduled to report along with McDonald's, Boeing, PayPal, Chevron and Exxon Mobil.
Inflation data from the eurozone is also due out this week, while Fed policymakers in Washington will also make a decision on interest rates, with guidance expected on when they will make a cut.
"While no change is expected at the Federal Reserve meeting this week, the odds are now strongly in favour of a cut in September, with more recent economic data including Friday's personal consumption expenditures (PCE) adding to investors' conviction that one or even two more could follow before the end of the year," said Interactive Investor head of markets Richard Hunter.
"The PCE rose 0.1% month on month, annualising to 2.5%, both in line with estimates. The non-farms payroll figure on Friday will be the next set of important data, with 185000 jobs expected to have been added in July, compared to 206000 the previous month."
In equity news, shares in Reckitt Benckiser slumped as almost 1,000 lawsuits were filed against Abbott Laboratories and the Enfamil formula maker.
A jury on Friday found that Abbott's specialized formula for premature infants caused an Illinois girl to develop a dangerous bowel disease, ordering the healthcare company to pay $495m in damages.
Heineken shares fell as the Dutch beverage maker announced an €874m write down of its investment in China Resources Beer and but also lifted full-year guidance.
Philips surged after second-quarter results beat forecasts.
Eni shares were up as RBC raised the stock to "outperform" from "sector perform".
Merck shares were up 3.6% the German company raised its forecast for the group on the back of a strong operating performance at its healthcare and electronics units.
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 | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
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.
