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30 Nov 2018 | 11:55

Trade war concerns sink FTSE

The FTSE 100 fell into the red ahead of a vital meeting on the ongoing trade war between the US and China at a G20 meeting in Argentina.

Miners suffered a sell-off with Antofagasta shedding 3.4% to 808.2p, Anglo American falling 2% to £15.78 and Fresnillo dropping 2% to 761.8p.

The FTSE 100 traded 0.7% lower at 6,987 at around midday.

Overnight, Wall Street closed lower as investors were concerned a resolution may not be in sight.


Shares in rare diseases specialist Shire was broadly unmoved at £44.92 despite European regulators granting marketing authorisation for its treatment for rare genetic condition hereditary angioedema.

Engineer Babcock won a ten-year contract worth approximately £100m, but this failed to excite the market as the shares slid 1% to 575.4p.


Financial services provider STM warned its annual profits will be impacted by 'uncollectable policy fees' and fewer than expected new business wins, dragging the stock 7.8% lower to 53p.

Real estate investment trust Impact Healthcare announced it would not raise money by the end of this year after deciding not to exchange contract on a portfolio of UK care homes. The stock nudged 0.5% to 103p.

Independent oil and gas group Serica Energy revealed the acquisition of BP's interest in three North Sea field and re-admission of its shares to the market. Shares in Serica gained 1.9% to 136.5p.

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