Stocks wobble amid concern over summit

Stocks were in the red as world leaders touched down in Quebec for what is likely to be a tense G7 summit.

Theresa May has landed in Canada, but will not be meeting Donald Trump after he fired off a series of tweets about the European Union’s “unfair” trade tariffs.

David Madden, market analyst at CMC, said: “European stocks spent much of the session in the red as trade tensions weighed on investor sentiment. The G7 meeting gets under way today in Quebec, and investors are cautious as certain trading relationships are a little strained.” The FTSE 100 closed the session down 23.33 points at 7,681.07.

BT’S shares climbed 1 per cent or 2p to 204.95p when its chief executive Gavin Patterson announced his departure.

Fuller, Smith and Turner has attempted to shrug off another “tough year”, but a lacklustre set of figures saw its share price fall 10p to 960p during trading.

Shares in fantasy miniatures maker Games Workshop were down over 6 per cent after the company said it intends to halve its full-year dividend to 30p.

The Nottingham-based group said it expects to report annual pre-tax profit of at least £74 million, up from last year’s £38.4m, but investors were nervous about first-quarter figures.

The Financial Conduct Authority made steps towards a £1.5 trillion London flotation of Saudi Aramco in a controversial decision. It said it would create a new category from 1 July that will allow sovereign-controlled companies to sidestep some of the requirements for listings.