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UK shares dip as Trump fails to soothe trade nerves

UK shares dip as Trump fails to soothe trade nerves
FILE PHOTO: A trader works at his desk whilst screens show market data at CMC Markets in London, Britain, January 16, 2019. REUTERS/John Sibley -
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JOHN SIBLEY(Reuters)
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(Reuters) – UK bluechip stocks retreated on Wednesday as traders grew weary of mixed signals from U.S. President Donald Trump about the progress of trade talks with China, while Tullow Oil slid after slashing production targets.

The FTSE 100 index <.FTSE>, which relies on global trade relations due to its international exposure, fell 0.5% by 0820 GMT, while the FTSE 250 index of midcap companies <.FTMC> was 0.6% lower.

Asia-exposed financials, led by HSBC <HSBA.L>, weighed on the main board as the protests in Hong Kong showed no signs of easing.

Tullow Oil <TLW.L> dropped 16% — its biggest one-day fall in 15 years — to the bottom of the midcap bourse after it cut its production outlook amid troubles at its Ghana fields.

(Reporting by Muvija M and Shashwat Awasthi in Bengaluru; editing by Uttaresh.V)

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