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FTSE 100 sinks on new Trump tariff threat, bleak Chinese data

Published 31/05/2019, 08:17
FTSE 100 sinks on new Trump tariff threat, bleak Chinese data
UK100
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FTMC
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FTNMX301010
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FTNMX402020
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FTNMX551030
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WIZZ
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100, FTSE 250 down 0.8%
* Threat of tariffs on Mexico hits financials, miners, oil
* Housebuilders knocked after Nationwide data
* Wizz Air falls despite optimistic forecast

May 31 (Reuters) - London's main stock index sank almost 1%
at opening on Friday after President Donald Trump's threat of
tariffs on Mexico and disappointing manufacturing data from
China focussed minds back on the threat of a global downturn.
The FTSE 100 .FTSE and the mid-cap FTSE 250 .FTMC had
both shed 0.8% by 0706 GMT and were on course for their first
monthly falls this year.
Data on Friday showed China's factory activity shrank more
than expected in May, another stark reminder of the economic
ramifications of the Sino-U.S. trade dispute. London's indexes of financial stocks .FTNMX8350 and miners
.FTNMX1770 gave up 1% each, while heavyweight oil stocks also
skidded.
Housebuilders .FTNMX3720 also fell after mortgage lender
Nationwide said British house price growth unexpectedly eased to
its slowest rate in three months, shining a light on how
lingering Brexit uncertainty is hitting consumer sentiment.
On the mid-cap index, Wizz Air WIZZ.L stumbled despite
forecasting net profit growth for the year ahead and saying it
was well-placed to tackle higher fuel costs. Shares
of the low cost carrier fell 4.5%.

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