Markets

FTSE 100 Subdued On Weak China Data

(RTTNews) - U.K. stocks were subdued on Monday, with commodity-linked stocks falling after data showed that China's exports fell unexpectedly in August amid escalating trade dispute with the U.S. administration.

A dip in the pound and hopes of further stimulus from global central banks helped to limit the downside to some extent.

The benchmark FTSE 100 was down 17 points, or 0.23 percent, at 7,265 after rising 0.2 percent on Friday.

Shares of Associated British Foods fell more than 3 percent after a disappointing pre-close trading update for the 12 months to mid-September.

IAG declined 2.3 percent as British Airways pilots went ahead with a strike.

Shopping centre-owner Intu Properties jumped 12 percent on reports of bid interest from private equity firm Orion Capital.

Anglo American, Antofagasta and Glencore fell between 0.4 percent and 1.1 percent after a decline in iron ore and base metal prices.

Essentra advanced 1.4 percent as it acquired Nekicesa Packaging S.L. from GED Iberian B, F.C.R. and EBN Vaccaria, F.C.R. for an undisclosed cash consideration.

Lloyds Banking Group dropped over 1 percent on saying it would incur a further charge of up to £1.8bn to cover claims relating to mis-sold payment protection insurance.

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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