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FTSE losses accelerate as China fears persist

StockMarketWire.com

The FTSE 100 is down more than 1% to 6,844.84 by Monday lunchtime as investors react to figures overnight in China showing a deterioration in both imports and exports.

US futures are also pointing towards losses on Wall Street amid caution on earnings from the banking sector and a continuing partial government shutdown in Washington.

LARGE AND MID CAP RISERS AND FALLERS

Sportswear retailer JD Sports rallied 7.3% to 425p as it shook off high street gloom to forecast an annual profit at the upper end of market expectations.

Recruitment firm PageGroup lost 6.2% to 436.4p, despite management forecasting an annual performance in line with expectations, as its UK business continued to under-perform its overseas divisions.

Dechra Pharmaceuticals, which supplies drugs for animals, shed 0.2% to £22.78, despite stating that first-half sales had grown in line with its expectations.

Premier Oil fell 11.1% to 70.7p after confirming that it was considering bidding for Chevron's assets in the North Sea. The Sunday Times newspaper had earlier reported that the company could launch a capital raising to pay for the assets, estimated to be worth around $1.5bn.

SMALL CAP RISERS AND FALLERS

Revolution Bars dropped 18.8% to 98.9p as it warned of a 20% fall in annual earnings amid a fall in first-half sales.

Office services provider Restore reversed 13.4% to 335p after an improved performance in its records-management business was tarnished by weakness at its shredding unit.

Power control component supplier XP Power fell 7.6% to £20.70, despite posting higher annual sales, as investors focused on a 4% fall in fourth-quarter order intake, blamed on weakness in the semiconductor equipment sector.

Verona Pharma tumbled 33.7% to 69p on revealing that a clinical trial of a treatment for respiratory disease did not achieve statistical significance for its primary endpoint.

Tri-Star Resources plunged 39% to 24.1p as it revealed that further funding would be needed to complete a gold processing facility in Oman after 'certain engineering issues' delayed construction.

Story provided by StockMarketWire.com