- Concerns over a potential trade war as US President Donald Trump prepared to announce wide-reaching tariffs on China toppled global markets.

The FTSE 100 took a 1.2% hit to 6,952. It was equally grim in the US and Europe with the S&P 500 dropping 1% to 2,684 and the Dax in Germany falling 1.7%.

Miners were among the casualties in the FTSE with Glencore (GLEN) dropping 3.2% to 359.2p and Rio Tinto (RIO) declining 3.5% to £35.84.

Anglo American (AAL), BHP Billiton (BLT) and Antofagasta (ANTO) followed its peers lower.

Brent crude oil slipped 0.6% to $69 per barrel and copper cheapened 1.5% to $3 per pound.


Consumer goods giant Reckitt Benckiser (RB.) terminated talks with US pharma giant Pfizer concerning the takeover of its consumer healthcare division. Its shares rose 4.8% to £58.95.

Fashion brand Ted Baker (TED) warned of challenging trading conditions this year, which overshadowed a strong set of results and pushed the stock 12.9% lower to £25.56.

Trading platform IG (IGG) jumped 2.9% to 841p after reporting a record quarter for sales at £421.3m thanks to a higher level of client trading activity and a greater number of clients.


Shares in airline Flybe (FLYB) have plummeted 25.9% to 34.6p after aircraft leasing firm Stobart (STOB) withdrew its potential takeover approach. Shares in Stobart dipped 1.5% to 226p.

Bank note printer De La Rue (DLAR) shed 5.9% to 474p after the Passport Office decided not to award the company with the contract to design and produce the UK passport when its contract expires in July 2019.

Toothpaste and mouthwash seller Venture Life (VLG) rallied 8.5% to 46.6p after delivering a maiden pre-tax profit of £0.1m, driven by good organic growth across the business.

Motor insurer Sabre (SBR) reversed 13.3% to 240p after disappointing investors with no maiden dividend for the year to 31 December 2017. The company listed in December and said it was confident of delivering an attractive dividend this year.

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