Trade dispute concerns sees Footsie lower
The US- China trade dispute continued to weigh on investors with the FTSE 100 ending the week just in the red.
London’s top flight declined by 4 points to 7,203.29 points after a feelgood start to trading across European markets quickly wore off.
A disappointing start to Uber’s first full day of trading in the US also saw its shares slip below the $ 45 launch price.
David Madden, market analyst at CMC Markets UK, said: “Equity markets are largely in positive territory, but they are all edging lower, as the feelgood factor in relation to the US- China trade situation is starting to wear off.
“The bounce in Asian markets overnight influenced European dealers, and now that it is dawning on investors that the US- China stand- off is far from over, and things are likely to get worse before they get better.” Shares jumped at British Airways owner International Consolidated Airlines Group ( IAG), despite revealing its profits were hit by rocketing fuel costs and foreign exchange headwinds in the first quarter. Shares rose 9.3p to 498.6p.
Hotel firm Millennium & Copthorne saw shares rise despite pressure on profits in the first quarter, as it was impacted by a programme of refurbishments. It finished up 4p at 444p.
Elsewhere, shares fell in B& Qowner Kingfisher ahead of its first- quarter results announcement on Wednesday.
Shares in RBS rose marginally after outgoing boss Ross Mcewan revealed the lender is considering two internal candidates to become its next chief executive. Shares in the state- backed bank rose by 0.7p to 232.9p.