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Feb. 8, 2019, 8:06 a.m. EST

FTSE 100 struggles as investors watch trade and Brexit negotiations

Global markets enter second day of selling

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By Emily Horton


AFP/Getty Images

London markets remained in the red on Friday, a day after the biggest one-day drop since late last year, with miners and oil stocks under pressure.

Meanwhile, investors prepare themselves for next trade move between U.S. and China.

How are markets performing?

FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.72% dipped 0.2% to 7,107.54, after finishing down 1.1% on Thursday. For the week, the index is off 0.5%. That marked the largest one-day percentage decline since Thursday, Dec. 27, 2018.

The pound /zigman2/quotes/210561263/realtime/sampled GBPUSD -0.4321% firmed up from earlier losses, fetching $1.2960 from $1.2953 late Thursday in New York.

What’s driving the markets?

Trade deal jitters returned after President Donald Trump said Thursday that he had no plans to meet with Chinese President Xi Jinping before a March 1 trade-deal deadline. U.S. stocks were set for a weaker session, after Thursday’s losses, while selling was also widespread in Asia.

The European Union has agreed to resume Brexit negotiations in an attempt to break the political deadlock over Brexit, however EU leaders have once again rejected Prime Minister Theresa May’s request to reopen the previously completed withdrawal agreement.

Brexit Brief: U.K. banks fret over data exchanges in disorderly split

What shares were active?

Electricity holding company SSE PLC /zigman2/quotes/204546319/delayed UK:SSE +0.62% warned over profits on Friday, and shares fell 1%. George Salmon, equity analyst from Hargreaves Lansdown said “SSE has delivered an impressive flow of dividends for shareholders, but the fact it hasn’t always covered the payout with its earnings or cash flows means there have been lingering doubts over its future for some time.”

Housebuilders were among the top movers in the FTSE 100, with Barratt Developments PLC /zigman2/quotes/209812640/delayed UK:BDEV +1.69% , Persimmon PLC /zigman2/quotes/206444744/delayed UK:PSN +1.71% and Berkeley Group Holdings PLC /zigman2/quotes/202576163/delayed UK:BKG +0.45%  all adding over 1%.

Weighing on the downside as oil prices fell, BP PLC /zigman2/quotes/207305210/composite BP +1.48%    fell 0.7% and Royal Dutch Shell Group PLC   eased 0.3%. On the mining side, shares of Anglo American PLC /zigman2/quotes/201381512/delayed UK:AAL +4.48% .

/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,518.35
+53.55 +0.72%
Volume: 695,741
May 17, 2022 4:59p
loading...
/zigman2/quotes/210561263/realtime/sampled
US : Tullett Prebon
1.2442
-0.0054 -0.4321%
Volume: 0.0000
May 18, 2022 2:40a
loading...
/zigman2/quotes/204546319/delayed
UK : U.K.: London
1,880.50 p
+11.50 +0.62%
Volume: 3.00M
May 17, 2022 4:35p
P/E Ratio
7.65
Dividend Yield
4.37%
Market Cap
£19.81 billion
Rev. per Employee
£603,700
loading...
/zigman2/quotes/209812640/delayed
UK : U.K.: London
487.80 p
+8.10 +1.69%
Volume: 1.62M
May 17, 2022 4:35p
P/E Ratio
7.62
Dividend Yield
6.79%
Market Cap
£4.90 billion
Rev. per Employee
£721,141
loading...
/zigman2/quotes/206444744/delayed
UK : U.K.: London
2,141.00 p
+36.00 +1.71%
Volume: 531,550
May 17, 2022 4:35p
P/E Ratio
8.71
Dividend Yield
10.98%
Market Cap
£6.72 billion
Rev. per Employee
£694,861
loading...
/zigman2/quotes/202576163/delayed
UK : U.K.: London
4,025.00 p
+18.00 +0.45%
Volume: 121,579
May 17, 2022 4:35p
P/E Ratio
9.67
Dividend Yield
0.25%
Market Cap
£4.46 billion
Rev. per Employee
£934,196
loading...
/zigman2/quotes/207305210/composite
US : U.S.: NYSE
$ 31.48
+0.46 +1.48%
Volume: 10.71M
May 17, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
4.10%
Market Cap
$99.12 billion
Rev. per Employee
$2.62M
loading...
/zigman2/quotes/201381512/delayed
UK : U.K.: London
3,498.50 p
+150.00 +4.48%
Volume: 2.43M
May 17, 2022 4:35p
P/E Ratio
7.05
Dividend Yield
6.12%
Market Cap
£44.79 billion
Rev. per Employee
£474,259
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