Share Prices & Company Research

Market News

01 Aug 2018 | 11:46

Reignited trade war tensions hit FTSE

The FTSE 100 tumbled into the red after US President Donald Trump threatened to impose more tariffs on Chinese goods.

The blue-chip index slid 1.1% to 7,666 around midday.

Brent crude oil slipped 1.3% to $73.27 per barrel.

Miners were among the casualties with BHP Billiton dropping 3% to £17.01 and Glencore losing 2.9% to 324.9p

Antofagasta and Fresnillo also suffered falls of over 2% each.

Rio Tinto revealed stronger first half profits and hiked its dividend, but trade wars concerns overshadowed the robust performance as the shares reversed 4.3% to £40.13.

MID AND LARGE CAP RISERS AND FALLERS

High street bank Lloyds beat profit expectations and boosted its guidance despite putting aside compensation money for mis-selling private protection insurance, helping the stock gain 1.8% to 63.5p.

BBA Aviation slumped 13.5% to 302.8p on declining operating margins from 20% to 17.7% in the half year to June.

A hot summer was bad news for fashion retailer Next, which fell 7.3% to £55.02, on disappointing quarterly sales figures.

Engineer Aggreko rallied 10% to 818p on a robust set of first half results as sales and profitability both rose.

Shares in outsourcer Capita went 6.7% in the other direction to 151p following a drop in sales and profitability in the first half of 2018.

Funeral provider Dignity beat first half profit expectations following a higher death rate, pushing the stock 4.4% higher to £10.57.

Higher sales volumes and price increases boosted first half profit at packaging business Smurfit Kappa, helping the shares advance 2.8% to £32.18.

Insurer Direct Line struggled on a drop in gross written premiums and rising combined ratio, implying lower profitability and hitting the stock 3.4% to 332p.

Man Group added 6.5% to 184.8p on an increase in funds under management to $113.7bn.

SMALL CAP RISERS AND FALLERS

Filtronic rallied 26.8% to 12.8p after winning a new contract worth $2m from a major European original equipment manufacturer.

Story provided by StockMarketWire.com
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