Shares hit by trouble in China

The FTSE 100 ended firmly in the red yesterday as disappointing trade data from China weighed on global indices.

London’s top flight closed down 63.16 points, or 0.91% at 6,855.02 as data from the Asian superpower showed a 4.4% decline in its December exports.

This represents the worst decline in two years, and comes amid simmering trade tensions between the US and China, and a slowdown in global growth.

On the FTSE 250, JD Sports shares were up after the retailer reported robust sales growth, bucking the trend of faltering high street sales.

The sportswear retailer’s sales increased 15% in the 48 weeks to January 5, while likefor-like sales rose 5%, including a positive performance from the

“The Asian superpower showed a 4.4% decline”

much-hyped Black Friday discount event.

The firm said its gross profit margins were maintained as it did not enter into “short-term reactive discounting unnecessarily” during the period. Shares were up 25.2p, or 6.36% at 421.4p at the close.

Revolution Bars warned that full-year profits will take a knock from “economic and political uncertainties”, taking a shine off rising sales over the festive period.

The group saw likefor-like sales for the 26 weeks to December 29 drop 4%, with the first quarter declining 5% and the second quarter down 3.1%.

It now expects halfyear earnings to come in around £2m lower than last year and annual earnings of £12m, down from £15m. Shares were down 25.8p, or 21% at 96p.