StockMarketWire.com - There was a sea of red across global equities as investors were still concerned over a potential trade war escalation between the US and China.

Sterling was weak despite the Bank of England's decision to hike interest rates to 0.75% and this helped the FTSE 100 ease back from bigger losses earlier in the day, but it still closed 1% lower at 7,575.

Brent crude oil gained 1.3% to $73.35 per barrel.

In Europe, there were heavy losses with Germany's DAX shedding 1.5% to 12,553.

On Wall Street, investor sentiment was also subdued as the Dow Jones reversed 0.4% to 25,240 around 4:45pm UK time.

MID AND LARGE RISERS AND FALLERS

Rolls-Royce announced it expects underlying profit and cash flow this year to hit the upper half of its forecasts thanks to better than anticipated growth in its civil aerospace and power systems divisions. Shares in the engineering specialist advanced 7.1% to £10.58.

London Stock Exchange Group enjoyed double-digit sales growth in information services, clearing and capital markets, helping boost profitability in the six months to 30 June and the stock by 3.2% to £44.97.

It was a mixed bag at Mitchell & Butlers as the World Cup drove drink sales higher although food sales were negatively impacted. Investors focused on the negatives as the shares dropped 6.2% to 241.4p.

High street bank Barclays dipped 2.7% to 186.5p as investors focused on a £2bn litigation-based hit instead of a robust underlying performance.

Mobile satellite communications services provider Inmarsat slumped 4.9% to 552.9p after swinging from a profit to a loss after EchoStar's failed takeover bid hiked costs.

Sage enjoyed accelerating sales growth as revenue increased 6.5% in the first nine months of 2018, helping the shares rise 3.4% to 646.8p.

Insurer Aviva slid 1.6% to 487.8p despite lower profits failing to hold back a 10% hike in the dividend. Aviva said weaker trading in Canada, adverse weather and business divestments were to blame for falling profits.

Rival RSA Insurance also struggled as bad weather over the first half of 2018 hit operating profit by 15% to £304m. The shares declined 1.9% to 629.2p.

Medical products supplier ConvaTec reversed 4% to 211.5p despite sales growing 10.8% to $921.3m and confirmation of full year guidance.

Kaz Minerals agreed to acquire the Baimskaya copper project in Russia for $900m in cash and shares. Shares in the miner fell 28.3% to 587.8p, adjusting to the implied dilution.

Lower iron ore prices and higher costs weighed in Ferrexpo's performance, dragging the shares 19.8% lower to 162p.

SMALL CAP RISERS AND FALLERS

Shares in UK estate agent Countrywide plummeted 62.8% to 18.5p following a heavily discounted emergency fundraising of £140m to deliver its turnaround plan.

Stride Gaming received a notice from the UK's Gambling Commission to pay a 'significant' financial penalty after a review was carried out on its licensed activities. Shares in Stride dropped 32.5% to 85p.

Nostrum Oil & Gas entered binding agreements to process third party hydrocarbons delivered by Ural Oil & Gas through Nostrum's subsidiary Zhaikmunai. The stock jumped 4% to 208p.


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