Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

FTSE 100 tumbles after Trump's latest tariff threat

FTSE 100 tumbles after Trump's latest tariff threat
FILE POTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville -
Copyright
TOBY MELVILLE(Reuters)
Euronews logo
Text size Aa Aa

(Reuters) – London’s blue-chip index plunged to its lowest in a month on Friday after U.S. President Donald Trump threatened to hit China with more trade tariffs.

The FTSE 100 index <.FTSE> slumped 1.5% by 0711 GMT and was on course for its worst day in more than two months, while the FTSE 250 midcap index <.FTMC> weakened by 0.9%.

All of the major constituent sectors on both indexes were in the negative territory in early deals.

Asia-focussed bank stocks, including HSBC <HSBA.L>, oil majors Shell <RDSa.L> and BP <BP.L> and miners led losses on the main index after Trump vowed to impose a 10% tariff on $300 billion worth of Chinese imports from Sept. 1.

Industrials Melrose <MRON.L> and Ashtead <AHT.L>, typically more exposed to global trade conditions, slumped 7.6% and 5%, respectively.

Among results-driven moves, Royal Bank of Scotland <RBS.L> dropped 5% as it warned on its targets amid Brexit uncertainties, while British Airways owner IAG <ICAG.L> rose 3% after reporting a better-than-expected profit for the first half of its key summer period.

(Reporting by Muvija M and Shashwat Awasthi in Bengaluru; Editing by Anil D’Silva)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.