FTSE dragged by revival of trade fears

Market report Emma Newlands

The FTSE 100 ended in the red as trade fears again weighed on global markets.

London’s top flight closed the day down 46.74 points at 7,457.86. Analysts put the slide down to renewed concerns over trade, as Donald Trump prepares to impose a further $200 billion (£156bn) worth of tariffs on Chinese imports this week.

David Madden, market analyst at CMC, said: “The US president is looking to row back on his earlier promise to try and remove trade barriers with the EU. Investors know how popular European cars are in the US, and they know how important the sector is to the European economy.”

On the FTSE 250, Redrow shares took a dive after the housebuilder urged the UK government to provide clarity over Brexit.

Shares closed down 11.5p at 545p, despite the firm also posting a 21 per cent rise in pre-tax profits to a record £380 million.

Sterling was on the slide again after lacklustre figures from the construction sector weighed on the British currency.

The pound was down 0.3 per cent against the dollar at $1.283. Versus the euro, sterling was up 0.1 per cent at €1.109. Mark Carney’s admission that he is in talks with the Treasury over extending his tenure as Bank of England governor - doing “whatever” he can to support the UK through Brexit - did little to help the pound.

The biggest risers on the FTSE 100 included Whitbread, up 119p at 4,700p, and Barclays, up 3.5p at 181.02p. The biggest fallers included Berkeley Group, down 160p at 3,510p, and Persimmon, down 80p at 2,358p. The car partsto-bike-group saw its shares motor ahead after shrugging off “challenging” market conditions to post a hike in sales. The global advertising giant, headed by new boss Mark Read, ended at the foot of the index, despite lifting its full-year sales outlook.