FTSE 100 Extends Slide On Trade-war Worries

Shutterstock photo

(RTTNews.com) - U.K. shares extended losses from the previous session on Wednesday amid persisting worries about global trade war.

China issued a list of 106 U.S. products that will be subject to additional tariffs after U.S. President Donald Trump unveiled plans to slap tariffs on $50 billion in Chinese goods.

The benchmark FTSE 100 was down 29 points or 0.42 percent at 7,000 in late opening deals after closing 0.4 percent lower on Tuesday.

WPP shares fell 1.3 percent. The advertising group said it is investigating allegations of personal misconduct against its chief executive, Martin Sorrell.

Smith & Nephew dropped half a percent after announcing the appointment of Namal Nawana as Chief Executive Officer, effective May 7.

In economic releases, U.K. construction activity contracted unexpectedly in March following five months of marginal growth, survey data from IHS Markit showed.

The IHS Markit/Chartered Institute of Procurement & Supply construction Purchasing Managers' Index fell to 47.0 from 51.4 in February.

Read the original article on RTTNews (http://www.rttnews.com/2878923/ftse-100-extends-slide-on-trade-war-worries.aspx)

For comments and feedback: contact editorial@rttnews.com

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

More from RTT News


See All RTT news

Research Brokers before you trade

Want to trade FX?