Composed start for FTSE 100 falters amid trade fears
Source - SMW
After initially taking news of Donald Trump's latest Chinese tariff threats in its stride the FTSE 100 was sharply lower by midday, down 1% to 7,306.53.
Shares in Thomas Cook were up 11.1% after Lufthansa pitched a bid for its German airline and suggested it might extend its offer to include the travel operator's other carriers.
LARGE AND MID CAP RISERS AND FALLERS
Domino's Pizza sagged 3.3% after it said its international business would no longer break even this year, amid weak sales growth.
Vodafone gained 1.1% on news that it had entered into a cable wholesale agreement in Germany with Spain's Telefonica.
Pharmaceutical company AstraZeneca advanced 0.6% after a trial of a leukaemia treatment demonstrated an improvement in the time patients live without disease progression.
Real estate agency Purplebricks slumped 5.2% after it announced the sudden departure of founder and chief executive Michael Bruce, while also announcing a strategic review of its US business and exit from the Australian market.
Specialist insurer Hiscox fell 0.7% as quarterly growth in its retail premium revenue was offset by a weaker reinsurance performance.
Flooring supplier Victoria firmed 3.6% on announcing that it expected to post another boost in margins in the current financial year.
Africa-focused fuel retailer Vivo Energy reversed 0.4% as its margins contracted in the first quarter, though sales volumes rose 7%.
SMALL CAP RISERS AND FALLERS
Ingredient supplier Treatt shed 1.2% after it booked a 28% fall in first-half profit, owing to a loss on the sale of vegetable seed oil business Earthoil Plantations.
Brake disc manufacturer Surface Transforms tumbled 15.7% as it downgraded its sales guidance due to contract delays.