FTSE 100 Slides On US-China Tensions

(RTTNews) - U.K. stocks were moving lower on Thursday as U.S.-China tensions intensified and a slew of Chinese data offered a mixed picture of the world's second-largest economy amid coronavirus headwinds.

Closer home, the U.K. unemployment remained unchanged in three months to May, data from the Office for National Statistics showed.

In three months to May, the jobless rate was largely unchanged at 3.9 percent, well below economists' forecast of 4.2 percent.

Early indicators for June suggested that the number of employees on payrolls fell around 650,000 compared to March.

The benchmark FTSE 100 dropped 57 points, or 0.9 percent, to 6,235 after rising 1.8 percent in the previous session.

GVC Holdings slumped 4.4 percent. The sports betting and gambling company said its chief executive officer, Kenny Alexander is to retire from the Board and the Company after 13 years at the helm.

SSE Plc advanced 1.5 percent. The energy company said it continues to target delivery of its five-year dividend plan to 2022/23, including an 80p + RPI full-year dividend for 2020/21.

Miner Anglo American lost 2 percent after it reported an 18 percent fall in overall second-quarter output.

Recruiter Hays tumbled 3.3 percent after warning of lower annual profits.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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