Shares end day in neg­a­tive ter­ri­tory

Western Morning News (Saturday) - - Shares -

The FTSE 100 ended in the red yes­ter­day as house­builders and min­ing stocks weighed on the in­dex.

Lon­don’s blue-chip mar­ket suf­fered a fall of 58.71 points, or 0.83%, to close at 6,980.24, with Antofa­gasta, Fres­nillo and An­glo Amer­i­can all end­ing in neg­a­tive ter­ri­tory.

Fiona Cin­cotta, se­nior mar­ket an­a­lyst at City In­dex, said: “The heavy weighted min­ers were tak­ing a beat­ing af­ter man­u­fac­tur­ing data from China overnight high­lighted the grow­ing im­pact of the US trade war. Chi­nese man­u­fac­tur­ing ac­tiv­ity dropped to the low­est level in two years with a PMI of just 50, whereby 50 sep­a­rate con­trac­tion from ex­pan­sion. High tar­iffs that have been ap­plied to both US and Chi­nese goods are start­ing to be re­flected in eco­nomic data, as the G20 sum­mit be­gins.”

The pound also came un­der pres­sure, with Brexit once again guid­ing the hand of cur­rency traders. Ster­ling dropped 0.2% ver­sus the US dol­lar at 1.276.

West stocks high­lighted

David Mad­den, an­a­lyst at CMC Mar­kets, said: “GBP/USD is lower on ac­count of the firmer US and un­cer­tainty sur­round Brexit. There is lit­tle sup­port for Theresa May’s deal, some MP’s are fear­ful of a ‘no-deal’ Brexit and now, Don­ald Tusk, the Pres­i­dent of the Eu­ro­pean Coun­cil said it’s ‘no deal or no Brexit’. The pres­sure is mount­ing on Mrs May, and the pound.”

Against the euro, the Bri­tish cur­rency was up 0.5% at 1.127.

In Eu­rope, Ger­many’s DAX was down 0.36% while France’s CAC 40 lost 0.1%.

A bar­rel of Brent Crude was trad­ing 1% lower at $59 a bar­rel.

The big­gest ris­ers on the FTSE 100 were Glax­oSmithK­line up 24p at 1,621.6p, Cen­trica up 1.6p at 137.75p, Shire up 45p at 4,550p and Voda­fone up 1.18p at 168.94p. The big­gest fall­ers were NMC Health down 244p at 3,298p, Tui down 79p at 1,117p, Antofa­gasta down 36p at 800.4p and Mel­rose In­dus­tries down 7.8p at 176.6p.

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