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Global equities decline as Turkey's potential financial crisis unnerves market

StockMarketWire.com

Global markets tumbled over a potential financial crisis in Turkey and US President Donald Trump's doubling of tariffs on goods from the country.

Other concerns weighing on investor sentiment include a possible 'no-deal Brexit' and the ongoing global trade tensions.

The FTSE 100 fell 1% to 7,667.

Brent crude oil increased 1.1% to $72.88 per barrel.

In the US, the Dow Jones shed 0.6% to 25,349 around 4:45pm UK time, while Germany's DAX plummeted 1.9% to 12,430.

Back in the UK, the economy grew 0.4% between April and June with both retail sales and construction supported by good weather according to the Office for National Statistics. In contrast, manufacturing fell 0.8% over the same period.

MID AND LARGE CAP RISERS AND FALLERS

Budget airline Ryanair descended 3.7% to €12.98 as a fresh swathe of strikes are started, resulting in 400 cancelled flights.

IP Group completed the £65m financing of its portfolio company Artios Pharma, which develops new treatments for cancer, lifting shares in IP Group by 1.3% to 121.6p.

Cruise specialist Carnival revealed a further batch of share repurchases from a previously announced share buyback programme. The stock advanced 2% to £46.23.

SMALL CAP RISERS AND FALLERS

Deep fat fryer manager services company Filta was up 1.3% at 231.9p after the acquisition and sale of its refrigeration business led to higher gross margins and better profitability.

Benefits insurance firm GBGI said it anticipates annual gross written premiums and net income to meet expectations, and reported rising premiums in the first half. The stock gained 7.1% to 105.5p.

Video streaming solutions provider Vitec nudged 0.8% higher to £13.10 despite a 20% jump in first half profits.

Story provided by StockMarketWire.com