Share Prices & Company Research

Market News

17 Sep 2018 | 09:08

FTSE opens lower as US-China trade tensions flare

UK stocks opened weaker on Monday amid reports that Donald Trump was expected to press ahead with $200bn worth of tariffs against China.

At 0859, the benchmark FTSE 100 index was down 8.11 points, or 0.1%, at 7.295.93.

Dairy Crest firmed 1.8% after it forecast first-half profit and revenue to be ahead of last year, driven by strong performances from its Cathedral City cheese and Clover spread brands.

Sirius Minerals firmed 4.9% after it signed a Brazil supply agreement with Cibrafertil Companhia Brasileira de Fertilizantes for its Yorkshire potash mine.

Online fashion retailer Boohoo added 1.2% on news it had poached Primark chief operating officer John Lyttle to be its new chief executive.

Luxury furniture group Walker Greenbank gained 3.8% on announcing that fashion retailer H&M was poised to launch a women's and men's clothing range using printing patterns from its Morris & Co brand.

Cosmetics supplier Warpaint London rallied 7.2%, as investors looked past a fall in profit owing to higher costs and focused on robust growth in sales.

Serinus Energy gained 11% on gathering 'excellent' flow test results from a new natural gas well in Romania.

Bakery group Finsbury Food's profits fell after it sold an unprofitable bakery, though its underlying earnings improved and it raised its dividend 10%. The shares shed 0.8%.

St. Modwen Properties said it had appointed Danuta Gray as its new chairman to replace Bill Shannon when he leaves in March. Gray was currently a director of Direct Line Insurance Group and a former chairman of Telefonica O2 in Ireland. The shares gained 0.5%.

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