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Chinese slowdown fears weigh on global equities

StockMarketWire.com

The FTSE 100 clawed back some losses but remained in the red, down 0.9% at 6,855, after downbeat Chinese data concerned investors.

Reports of progress between the US and China on a potential resolution of their trade war failed to lift Wall Street as the Dow Jones slipped 0.4% to 23,905 by around 4:45pm UK time.

Brent crude oil slid 0.7% to $60 per barrel.

LARGE AND MID CAP RISERS AND FALLERS

Sportswear retailer JD Sports rallied 7.2% to 424.8p as it shook off high street gloom to forecast an annual profit at the upper end of market expectations.

Recruitment firm PageGroup lost 7% to 432.2p, 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, rose 2.6% to £23.42 after first-half sales grew in line with its expectations.

Premier Oil fell 11.6% to 70.2p 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 21.2% to 96p as it warned of a 20% fall in annual earnings amid a fall in first-half sales.

Office services provider Restore reversed 12.1% to 340p after an improved performance in its records-management business was tarnished by weakness at its shredding unit.

Shares in Jackpotjoy owner JPJ Group gained 2.9% to 646p on news that its sales and earnings are expected to be at the top end of market expectations in the year to 31 December,

Power control component supplier XP Power fell 5.8% to £21.10, 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 40.4% to 62p 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 34.2% to 26p 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