- The fallout from the escalating trade war between China and the US continued, which weighed on the FTSE 100.

China retaliated with its own fresh tariffs after the US announced new tariffs on goods on Tuesday evening.

Wall Street recovered overnight, but this could change later when the market opens.

In Asia, China's SSE Composite was down 0.2% on Wednesday while Hong Kong's Hang Seng dropped 2.2% to 29,518.

Back in the UK, commodity stocks dropped following a sharp 1.7% decline in the price of Brent crude oil to $67 per barrel.

Anglo American (AAL) shed 4.4% to £15.67 and Rio Tinto (RIO) fell 3.2% to £35.13. BHP Billiton (BLT) was also weaker, down 3% at £13.66.

The FTSE 100 was trading 0.7% lower at 6,982 around midday.

Gold glittered at $1,341 per ounce and copper dropped 2.3% to $2.99 per tonne.


WPP (WPP) slipped 1.7% to £10.98 after announcing an investigation into chief executive Sir Martin Sorrell following a personal misconduct allegation.

Entertainment One (ETO) was confident its performance will meet expectations thanks to rising sales and underlying earnings. Its shares retreated 1.9% to 279.6p.

Airlines Ryanair (RYA) and Wizz Air (WIZZ) both revealed rising passenger numbers in March.

Magners cider maker C&C (CCR) announced it is in advanced talks to acquire Conviviality's (SVR) drinks distribution business after the company went into administration before the Easter break. Shares in C&C surged 14.7% to 2.9p.


Shares in biomaterials developer Collagen Solutions (COS) crashed 20% to 2.6p after reporting sales for the year to 31 March will be £3.5m, down from an anticipated £3.9m. The company said the revenue miss was due to various delays.

Tiles specialist Topps Tiles (TPT) reported a slowdown in like-for-like sales in its second quarter, which fell 2.2%. The stock slumped 11.3% to 71.4p on the update.

Media publisher Future (FUTR) revealed it plans to acquire events business Newbay Media, which could cost £13.7m depending on the future performance of Newbay. The stock gained 1.3% to 390p.

Flooring products specialist Victoria (VCP) beat market expectations with its latest full year results, helping the stock rise 2.5% to 761p.

Property site OnTheMarket (OTMP) said web traffic reached 12 million visits in March, but this failed to move the shares at 109p.

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