Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Markets

News : Markets
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

LONDON MARKETS: London Markets Hit By Economic, Trade Fears

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/31/2019 | 06:27am EDT

By Dave Morris

London markets were in a slump as the latest U.S. dispute with a foreign power, Mexico, exacerbated jitters over the health of the global economy.

How did markets perform?

The U.K.'s FTSE 100 moved down 1% to 7,146.6. On Thursday, it climbed 0.5%.

The pound dipped 0.2% to $1.2585, adding to Thursday's 0.3% downward move.

Oil prices continued to fall Friday on fears of slowing global growth. The West Texas Intermediate (WTI) crude oil benchmark was down 0.9% Friday to $56.07/bbl. The Brent crude benchmark lost 1.1% Friday, moving down to $64.60/bbl.

What's moving the markets?

U.S. President Donald Trump piled more tariffs on his trading partners , this time slapping a 5% fee on imports from Mexico and said it could rise to 15% unless the flow of illegal immigration coming through the country is stopped. The administration is in the midst of attempting to build a border wall despite opposition in the courts, and is also locked in a trade dispute with China.

Perceived weakness in the global economy has hit the price of oil, despite supply constraints organized by the Organization of the Petroleum Exporting Countries (OPEC) and others such as Russia. U.S. crude oil inventories shrank by 300,000 barrels, according to the Energy Information Administration, versus S&P Global Platts' expectations that they would shrink by 1.4 million barrels, on average.

In economic data, China's purchasing manager index (PMI) manufacturing figures for May showed a contraction in activity of 49.4, lower than the 49.9 reading economists had expected.

Which stocks are active?

Oil stocks were on the losing side of the market. Premier Oil slumped 7.1%, John Wood Group was down 4.4% and Tullow Oil fell 3.6%.

Budget airline Wizz Air Holdings shares fell 3.4% after it missed on earnings . Full year revenue was GBP1.707 billion, versus expectations of GBP1.712 billion.

Stocks mentioned in the article
ChangeLast1st jan.
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.0.00%
JOHN WOOD GROUP 2.32% 512.2 Delayed Quote.1.19%
PREMIER OIL 1.35% 77.96 Delayed Quote.17.15%
TULLOW OIL 0.78% 199.5 Delayed Quote.11.39%
WIZZ AIR HOLDINGS PLC 0.97% 3626 Delayed Quote.29.41%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Markets"
05:45aTech Rally Powers Record Gains for Stocks
DJ
07/20TECH STOCKS : Judge Told Tesla To Release Evidence In Short Seller Trial, So Tesla Dropped The Case
DJ
07/20MARKET SNAPSHOT: Forget The Fed -- Stock-market Investors Brace For Dow's Busiest Week Of Earnings
DJ
07/19CHARLES SCHWAB : Stocks That Defined The Week
DJ
07/19Global stocks down as big rate cut hopes fade, dollar rises
RE
07/19Correction to stocks end the week lower
DJ
07/19Global stocks up on Fed rate cut hopes, Microsoft results; dollar bounces
RE
07/19Global stocks down as big rate cut hopes fade, dollar rises
RE
07/19WALL STREET STOCK EXCHANGE : Stocks End Week Lower as Fed Signals Small Rate Cut
DJ
07/19MARKET SNAPSHOT: Stocks Close Lower As Fed Seen Signaling Only Modest Rate Cut, Iran Seizes Tankers
DJ
Latest news "Markets"
Advertisement