Share Prices & Company Research

Market News

31 May 2019 | 12:13

Trump's Mexico tariff threat puts markets in a tailspin

After a brief respite yesterday, selling resumed on Friday with May shaping up to be a very bad month for the markets.

After Donald Trump threatened Mexico with the imposition of tariffs overnight, by midday the index of leading UK shares was down 1.1% at 7,142.33.

Traditional safe havens in the utility sector bucked the negative trend, Severn Trent advancing 0.9% and SSE ahead by 2.1%.

LARGE AND MID CAP RISERS AND FALLERS

Legal & General slipped 0.8% on announcing that it agreed to sell its general insurance business to Allianz Holdings for at least £242m.

Infrastructure group Balfour Beatty gained 1.2% after being selected, in a joint venture, to deliver the $1.7bn Interstate 635 LBJ East road project in Texas.

Eastern European focused budget carrier Wizz Air descended 5.6%, despite booking a 6% rise in full-year net profit, as it foreshadowed another 'very challenging' operating environment in the year ahead.

SMALL CAP RISERS AND FALLERS

Online gambling group Stride Gaming jumped 26% after it received a £114.5m takeover approach from Rank Group pitched a 151p per share.

Media and entertainment business Time Out dipped 2.1% as it prepared to open a new food market in New York to the public on Friday.

Argentina-focused Patagonia Gold jumped 14.6% on news that it had agreed to be acquired by Canada's Hunt Mining in a reverse takeover deal for around £17.2m.

Out-of-hospital care group Totally slumped 8.4% after it announced a discounted share issue to fund the acquisition of NHS urgent care provider Greenbrook Healthcare for £11.5m.

Legal and professional services business Gordon Dadds fell 0.7% on revealing that it had changed the brand name of its legal businesses to 'Ince' following an internal review. Story provided by StockMarketWire.com
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