Source - SMW
The FTSE 100 tailed off sharply on Friday afternoon as fears mounted that US president Donald Trump will retaliate against China over a sweeping national security law it approved for Hong Kong.

Trump was due to hold a news conference later on Friday, and markets began to fall after he simply tweeted 'CHINA!'.

The UK's benchmark index closed 2.29%, or 142.19 points, lower to 6,076.60.

LARGE AND MID CAP RISERS AND FALLERS

Gambling group Flutter Entertainment fell 2.48% to £103.37 after it raised £812m in a share placing with institutional investors. Retail investors were not able to participate and buy shares in the placing.

Pharma giant AstraZeneca fell 1.36% to £85.80 despite reporting positive trial results for a drug to treat non-small cell lung cancer.

Building products supplier SIG gained 4.29% to 29.2p after an earlier rally despite it swinging to a full-year loss and unveiling plans to raise £150m from a share issue.

SIG said investment manager Clayton, Dubilier & Rice had conditionally agreed to invest up to £85m in the company via the equity raising and take two board seats.

Textile services provider Johnson Service plunged 18.18%% to 117p after it too detailed plans to raise equity, in its case about £85m through a discounted share placing.

General merchandise retailer B&M European Value Retail gained 5.5% to 389.7p as it reported strong revenue growth, driven by DIY and gardening categories.

B&M European Value Retail, however, said it did not expect the momentum to continue as lockdown measures ease.

Real estate investor TR Property Investment Trust gained 1.28% to 357p even as lifted its dividend on the back of a negative annual performance that nevertheless beat its benchmark.

The fund declared a final dividend of 8.8p per share, up 2.3% on-year, bringing total dividends for the year to 14p per share, up 3.7%.

Schroder Oriental Income Fund dipped 0.25% to 202.5p after it posted a negative first-half performance but bumped up its dividend, despite warning of more uncertainty ahead.

The fund declared two interim dividends for the first two quarters of the financial year amounting to 3.8p per share, up from 3.6p on-year.

Brewing and pub company Young & Co.'s Brewery shed 5.13% to £11.10 on announcing that it would not pay an interim dividend for its current financial year.

Smart meter installer Smart Metering Systems ticked 5% higher to 630p on announcing that it planned to commence a phased resumption of all non-essential field work from the beginning of June.

SMALL CAP RISERS AND FALLERS

Legal business DWF slumped 17.88% to 66p after it warned on profit and said chief executive Andrew Leaitherland had stood down, with immediate effect.

Outdoor advertising group Ocean Outdoor rallied 12.73% to $6.20, having secured a new £35m financing facility to help it ride out the Covid-19 storm.

Hostel company Safestay increased 6% to 15.9p despite having reported a full-year loss after a rise in revenue was offset by higher finance costs.

Safestay said it would open hostels in a staggered manner 'over the course of 2020, as and when we believe they can be profitable'. 


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