FTSE 100 Drops On Trade Worries

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(RTTNews.com) - U.K. stocks fell notably Friday on renewed trade worries after China said it would retaliate with tariffs of its own if the U.S. goes ahead with its plans to impose punishing tariffs on tens of billions of dollars of Chinese goods.

The benchmark FTSE 100 was down 50 points or 0.64 percent at 7,714 in late opening deals after closing 0.8 percent higher on Thursday.

Miner and commodities trader Glencore dropped 1.5 percent after settling a legal dispute in the Democratic Republic of Congo.

Tesco shares rallied 2 percent. The retailer delivered positive like-for-like sales growth for a tenth consecutive period in the first quarter.

Rolls Royce Holdings soared 10 percent. The jet-engine manufacturer said that it is well-placed to exceed free cash flow of 1 billion pounds by 2020.

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

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