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Composed start for FTSE 100 falters amid trade fears

Tuesday, 7th May 2019
After initially taking news of Donald Trump's latest Chinese tariff threats in its stride the FTSE 100 was sharply lower by midday, down 1% to 7,306.53.

Shares in Thomas Cook were up 11.1% after Lufthansa pitched a bid for its German airline and suggested it might extend its offer to include the travel operator's other carriers.


Domino's Pizza sagged 3.3% after it said its international business would no longer break even this year, amid weak sales growth.

Vodafone gained 1.1% on news that it had entered into a cable wholesale agreement in Germany with Spain's Telefonica.

Pharmaceutical company AstraZeneca advanced 0.6% after a trial of a leukaemia treatment demonstrated an improvement in the time patients live without disease progression.

Real estate agency Purplebricks slumped 5.2% after it announced the sudden departure of founder and chief executive Michael Bruce, while also announcing a strategic review of its US business and exit from the Australian market.

Specialist insurer Hiscox fell 0.7% as quarterly growth in its retail premium revenue was offset by a weaker reinsurance performance.

Flooring supplier Victoria firmed 3.6% on announcing that it expected to post another boost in margins in the current financial year.

Africa-focused fuel retailer Vivo Energy reversed 0.4% as its margins contracted in the first quarter, though sales volumes rose 7%.


Ingredient supplier Treatt shed 1.2% after it booked a 28% fall in first-half profit, owing to a loss on the sale of vegetable seed oil business Earthoil Plantations.

Brake disc manufacturer Surface Transforms tumbled 15.7% as it downgraded its sales guidance due to contract delays.

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