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FTSE 100 tumbles after Trump's latest tariff threat

Published 02/08/2019, 08:34
Updated 02/08/2019, 08:40
© Reuters. FTSE 100 tumbles after Trump's latest tariff threat
UK100
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HSBA
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BP
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NWG
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SHEL
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MRON
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AHT
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FTMC
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ICAG
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 down 1.5%, FTSE 250 down 0.9%
* Banks, miners, oil majors biggest drags
* RBS drops after warning on outlook
* British Airways owner IAG gains on profit beat

Aug 2 (Reuters) - London's blue-chip index plunged to its
lowest in a month on Friday after U.S. President Donald Trump
threatened to hit China with more trade tariffs.
The FTSE 100 index .FTSE slumped 1.5% by 0711 GMT and was
on course for its worst day in more than two months, while the
FTSE 250 midcap index .FTMC weakened by 0.9%.
All of the major constituent sectors on both indexes were in
the negative territory in early deals.
Asia-focussed bank stocks, including HSBC HSBA.L , oil
majors Shell RDSa.L and BP BP.L and miners led losses on the
main index after Trump vowed to impose a 10% tariff on $300
billion worth of Chinese imports from Sept. 1.
Industrials Melrose MRON.L and Ashtead AHT.L , typically
more exposed to global trade conditions, slumped 7.6% and 5%,
respectively.
Among results-driven moves, Royal Bank of Scotland RBS.L
dropped 5% as it warned on its targets amid Brexit
uncertainties, while British Airways owner IAG ICAG.L rose 3%
after reporting a better-than-expected profit for the first half
of its key summer period.

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