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Global equities slide on trade war escalation

Monday, 13th May 2019
News of Chinese retaliation in its stand-off with the US over trade put global markets under pressure on Monday. By the close the FTSE was down 0.6% at 7,163.68

By 4.30pm UK time the US S&P 500 was down 2.2% at 2,816.75.

Shares in mobile telecoms giant Vodafone fell 5.1% on weekend press reports that it will cut its dividend.

Broadcaster ITV was down 6.1%. It announced the suspension of the Jeremy Kyle show after the death of a guest.

Royal Dutch Shell advanced 1.2% as oil prices surged after four tankers were apparently sabotaged in the Gulf of Oman amid rising regional tensions.

LARGE AND MID CAP FALLERS

British Gas owner Centrica gained 3.2% after it stuck to its annual guidance, despite facing another challenging first quarter that many had expected would result in a downgrade.

The company also announced that it would provide a more detailed strategic update when it releases its interim results in late July.

Metro Bank slumped 7.9%, even as it attempted to reassure investors about its capital position by announcing that its plan to raise £350m from a share issue was 'well advanced'.

The challenger bank over the weekend had denied 'false' claims on social media about its financial position.

Funeral firm Dignity dropped 2.7% owing to a profit warning blamed on significantly lower death rates.

Bus and train company FirstGroup fell 0.8% after it revealed activist investor Coast Capital Management had called a shareholder meeting to try and roll its board.

Technical product supplier Diploma fell 1.1%, despite beating its annual revenue guidance, as it also noted 'early signs' slower activity in its industrial seals segment.

Plastics company Victrex softened 6.1% after it booked a 21% fall in first-half profit, owing to weakness its automotive and consumer electronics divisions.

Engineering group Ricardo gained 2% on announcing that it had agreed to acquire Australia-based rail system company Transport Engineering from private owners Stephen and Alia Boyd for $53.6m (£28.9m).

Southend Airport owner Stobart fell 10.8% as it announced a delay to the publication of its full year results.

SMALL CAP RISERS AND FALLERS

Education services firm Wey Education was up 39.8% as it reported a 54.7% increase in first half turnover.


Story provided by StockMarketWire.com


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