Share Prices & Company Research

Market News

17 Dec 2018 | 16:42

Global equities fall on potential US interest hike

Criticism from US President Donald Trump over the Federal Reserve's apparent enthusiasm for interest rate hikes put global equities in a funk, with the FTSE 100 down 1% at 6,773.

It was a tough day for the blue-chip index as investors were concerned that Christmas may not provide a much-needed boost for the embattled retail sector following a profit warning from ASOS.

Online fashion retailer ASOS plunged 37.5% to £26.14 as it cut its full-year profit and sales expectations, citing disappointing November trading.

Rival web-based retailer Boohoo got caught in the crossfire, slumping 13.7% to 157.8p despite stating that it continued to perform 'comfortably' in line with market expectations.

European indices were a sea of red with Germany's DAX down 0.7% at 10,793 while Wall Street also struggled with negative sentiment.

Brent crude oil fell 1.2% to $59.52 per barrel and copper cheapened 1.1% to $2.73 per pound.

LARGE AND MID CAP RISERS AND FALLERS

Power utility SSE fell 3.2% to £10.55 on news that it had decided to pull the plug on a proposed merger of its retail energy business with Innogy's npower unit.

SSE said it would now consider other options for the business instead, including a de-merger or outright sale to another company.

Online trading platform Plus500 fell 5.2% on a confirmed date of 21 January for its extraordinary general meeting where it will focus on approving revised remuneration arrangements for its directors.

Miner BHP Billiton confirmed details of a $1.02 per share special dividend linked to the sale of its onshore US assets, boosting the stock by 2.7% to £16.59.

Rio Tinto also announced it had completed the sale of its aluminium smelter at Dunkerque, France to Liberty House for $500m.

Oil services firm Hunting fell 5% to 488p and sparked wider weakness among its peers after flagging a decline in profit for the fourth quarter and sounding a gloomy tone on 2019.

Chemicals company Croda International fell 1.9% to £46 as it agreed to acquire vaccine service company Brenntag Biosector for €72m.

SMALL CAP RISERS AND FALLERS

Miner KEFI Minerals gained 11.8% to 1.7p as it said its Tulu Kapi gold project in Ethiopia was on track to start in January 2019 after authorities approved a community resettlement plan at the site.

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.