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
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
Sector movers: Real estate, Travel and Leisure pace gains
(Sharecast News) - Interest rate sensitive real estate and construction paced gains on the stock market on Thursday as many analysts speculated that the Bank of England might be at or near its rate hiking cycle. "We can't rule out a final 25bp hike in Bank Rate next month, or in May. But if, as we expect, price rises continue to slow and labour market slack continues to emerge, then 4% should be the peak for Bank Rate and the next move will be down, though probably not until 2024," Samuel Tombs and Gabriella Dickens at Pantheon Macroeconomics said in a research report sent to clients.
Many investors had reached a somewhat similar conclusion overnight as regarded the US Federal Reserve, although in the US the margin of error was arguably a bit greater and even more so, perhaps, in the case of the European Central Bank.
For the moment however, sovereign debt was bid higher on both sides of the Pond, especially in the UK and euro area.
Travel and Leisure issues also did quite well as JP Morgan analysts told clients that the early summer looked "very encouraging" for airline yields.
Shares of RyanAir, Wizz and IAG all moved higher on the back of the endorsement.
Oil&Gas shares were lower but possibly more as a result of profit-taking in a classic 'sell on the news' reaction.
Brent crude oil futures were a tad lower in the background.
Banks were also down as a group, although the selling pressure was focused especially on the likes of StanChart and HSBC.
The former had been downgraded by analysts at Goldman Sachs, due to their outperformance vis-a-vis European lenders and the expected improvement in net interest income was increasingly reflected in the consensus.
Another reason was that because they saw "more limited benefit from higher policy rates in Hong Kong. We see better opportunities in UK domestic peers Natwest (Buy, on CL); Lloyds (Buy)."
Top performing sectors so far today
Industrial Transportation 4,139.93 +6.33%
Real Estate Investment Trusts 2,572.37 +5.93%
Household Goods & Home Construction 12,025.07 +5.46%
Real Estate Investment & Services 2,480.58 +5.36%
Travel & Leisure 7,630.94 +4.55%
Bottom performing sectors so far today
Oil, Gas and Coal 8,177.98 -1.54%
Aerospace and Defence 5,218.89 -0.78%
Banks 3,771.31 -0.78%
Industrial Metals & Mining 8,027.19 -0.65%
Retailers 3,313.80 -0.29%
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 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.
