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20 May 2019 | 16:45

UK stocks recover some ground despite Google blocking Huawei

The FTSE 100 finished Monday down at 0.5% at 7,310.88, off its lows for the day, after Google barred Chinese smartphone maker Huawei from updates to the Android operating system.

The news reignited concerns over trade tensions between the US and China. By 4.30pm the S&P 500 was down 0.4% at 2,847.80

Housebuilding stocks were under the cosh, Barratt Developments leading the way lower with a 4.5% decline on weak UK house price data.

Travel operator Thomas Cook continued to tumble to fresh lows amid ongoing fears over the company's financial position, the shares down a further 13.7%. Rival TUI also fell 6.3%.


Theme park operator Merlin Entertainments fell 6.9% on negative analyst comment from investment bank HSBC.

Budget carrier Ryanair descended 4.6% after it booked a 29% fall in annual profit.

The company also delayed delivery of its first Boeing 737 MAX aircraft and guided for flat profits in the current year amid a 'cautious' outlook for ticket pricing.

IT infrastructure product and services provider Softcat gained 1%, reversing earlier losses, as it forecast full-year results 'slightly ahead' of previous expectations.

Healthcare investor Syncona gained 1.4% on news that it had founded new cell therapy company Quell Therapeutics with a £35m funding commitment.


Performance materials supplier Low & Bonar tumbled 24% after it warned on profits and announced the departure of chief executive Philip de Klerk.

London and southeast England focused property investor McKay Securities posted a 70% fall in annual profit, owing to lower rises in the value of its investments. Adjusted profit, however, rose 2.3%, the dividend rose 2.8%. Its shares ticked up 0.4%.

Support services firm WYG gained 234.4% on a recommended cash offer of £43.4m from Tetra Tech.

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