Global growth fears see FTSE slide further

The FTSE 100 was in the red on as investors fretted about global growth and an economic slowdown in China.

London’s blue chip index ended the day 0.47 per cent lower at 6,845.17.

David Madden, market analyst at CMC Markets, said: “Concerns about global growth set in after China revealed some broadly disappointing economic data overnight.”

He said the tariffs imposed on China by the US in the ongoing trade dispute have not hurt Chinese importers’ demand for American goods, but the Chinese “economy is clearly cooling, and at some point that is likely to show up in the trade figures”.

Elsewhere, the pound was weaker on continued uncertainty surrounding Britain’s departure from the European Union.

Sterling was down 0.7 per cent against the dollar at $1.256 and fell 0.15 per cent versus the euro to €1.112 at the London market close.

In corporate news, recruitment specialist Sthree upgraded its full-year profit forecasts and announced the departure of its chief executive. Sthree shares rose 10p to 270p.

Shares in London Stock Exchange Group were down 10p to 4,040p after it appointed Ex per ian’ s don robert as chair, a year after a bitter public dispute within the company’ s boardroom. Daily Mail publisher Reach, which produces the Daily Record in Scotland, said its 2018 performance will be ahead of market expectations following its takeover of the Daily Express and other titles. Shares rose 6p to 63p after the group said it expects to deliver £3 million in cost savings this year.