FTSE 100 Drifts Lower On Trade Worries

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(RTTNews.com) - U.K. shares fell on Tuesday as a slew of profit warnings coupled with an escalating trade spat between the world's two biggest economies soured investors' appetite for risk.

The benchmark FTSE 100 was down 38 points or 0.51 percent at 7,592 in late opening deals after ending marginally lower in the previous session.

Department stores group Debenhams lost about 8 percent after issuing another profit warning for the third time this year.

Similarly, Footasylum shares plunged 48 percent after the footwear retailer noted that trading since the beginning of the new financial year has been impacted by the widely documented weak consumer sentiment on the high street.

Industrial equipment rental company Ashtead Group dropped 5.4 percent after its profit before taxation for the fourth quarter declined to 174.7 million pounds from 180.6 million pounds last year.

Lower copper prices weighed on the mining sector, with Anglo American, Antofagasta and Glencore all losing about 2 percent.

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This article appears in: Politics , World Markets , Economy , US Markets , Stocks
Referenced Symbols: DBHSY ,

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