StockMarketWire.com - Global markets tumbled after US president Donald Trump threatened to impose a 10% tariff on an extra $200bn of Chinese goods.

The FTSE 100 fell 0.3% to 7,603.

Miners were among the worst hit with Evraz (EVR) down 4.2% at 515.6p and Rio Tinto (RIO) shedding 3.1% to £41.27.

Anglo American (AAL) and Glencore (GLEN) were also affected by negative sentiment.

Brent crude oil fell 0.8% to $74.75 per barrel and copper cheapened 1.4% to £3.06 per tonne. Gold nudged 0.3% lower to $1.272 per ounce.

There was another profit warning from embattled department store Debenhams (DEB), marking the third warning in six months. The company blamed poor trading and higher competitor discounting for its poor performance, causing its shares to fall 4.5% to 18.7p.

OVERSEAS MARKETS

It was a sea of red on Wall Street with the Dow Jones taking the biggest hit of 1.2% to 24,685 around 4:45pm UK time.

European equities also struggled with the DAX in Germany experiencing a 1.1% drop to 12,685.

MID AND LARGE CAP RISERS AND FALLERS

A profit warning at retirement housebuilder McCarthy & Stone (MCS) saw its shares decline by 17.2% to 108p after a strong selling period over spring failed to materialise. A 'noticeable decline' in reservation rates was one of the main reasons behind the warning.

This led to a negative read across to peers Persimmon (PSN), down 2.8% to £26.26, and Taylor Wimpey (TW.) which dropped 1.6% to 183.7p.

Construction equipment supplier Ashtead (AHT) declined 4.4% to £22.67 despite a 21% jump in pre-tax profit to £927m and dividend hike in the year to 30 April.

Outsourcer Capita (CPI) won a large contract with the Ministry of Defence and agreed to sell its supplier assessment services business for £160m, helping the stock rally 7.7% to 163.9p.

Plumbing and heating products distributor Ferguson (FERG) benefited from robust demand in US residential markets, pushing profit 17.1% higher its third quarter. Shares in Ferguson gained 1.9% to £60.

SMALL CAP RISERS AND FALLERS

There was more bad news from the retail sector after Footasylum (FOOT) warned its trading was hit by weaker consumer sentiment on the high street. Shares in the trainers seller plummeted 52.2% to 80p as investors were spooked by the news.

Value fashion chain Bonmarche (BON) enjoyed a 12% rise to 114.8p following a 38% increase in profit in the year to 31 March thanks to strong online sales.

Airline Flybe (FLYB) spent more than expected on maintenance costs and IT amid adverse weather conditions, resulting in a higher loss than expected of £20.5m. The stock experienced some turbulence, falling 4.2% to 38.2p.

Advertising technologies specialist Taptica (TAP) revealed earnings before interest, tax, depreciation and amortisation is forecast to beat market expectations, prompting the shares to jump 22.5% to 340p.

A profit warning from commercial equipment distributor HC Slingsby (SLNG) wiped nearly a fifth off its market cap value.


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