Trump tweets spook market as FTSE falls

London’s top-flight stocks failed to capitalise as sterling continued to plunge, with the FTSE 100 hampered by uncertainty caused by Donald Trump.

The FTSE 100 closed down 39.84 points at 7,646.77 despite weakness in the pound, which would usually drive UK markets higher as shares become cheaper for dollar-denominated investors.

Sterling was down 0.46 per cent at $1.2162 against the dollar and lost 0.51 per cent against the euro at $1.0908 at the London market close.

The US president once again caused uncertainty, following a tweet saying “the problem with China, they just don’t come through”.

Connor Campbell, financial analyst at Spreadex, said: “Trump poured a tanker full of cold water on the embers of the market’s trade optimism with, what else, a series of inflammatory tweets.”

In company news, british gas owner Cent rica shares lost 19 per cent to 73.58p after reporting a pre-tax loss of £446 million in the six months to June. Chief executive Iain Conn also resigned.

The FTSE 100 was helped by strong results from BP, making the oil and gas firm the biggest riser on the top index.

Shares closed up 3.1 per cent at 543.2p after bosses posted a drop in half-year profits but delivered better-than-expected second-quarter earnings with a boost in production.

Greggs hailed the success of its latest menu additions as profits soared in the first half of the year by 52 per cent to £36.7m. But investors were unimpressed, with shares falling 6.2 per cent to 2,236p.