StockMarketWire.com - The market could not shake off concerns over a planned meeting between the US and China this week as previous attempts to reconcile the trade war between the countries have failed.

The FTSE 100 slid 0.3% to 7,016.

A report from financial services company Rabobank did little to help, implying the global economy could struggle if the trade tensions continue.

Elsewhere in Europe, there was a sea of red with stock markets shedding up to 0.5% apiece.

On Wall Street, the indices were flat with the exception of the Dow Jones, down 0.2% at 24,587 at around 4:45pm UK time.

Brent crude oil was stable at $60.44 per barrel.

LARGE AND MID CAP RISERS AND FALLERS

Thomas Cook tumbled 22.6% to 37.5p as it warned its annual operating earnings would fall 19%, marking in its second downgrade in two months, amid heavy discounting at its tour operating business. The company also suspended its full-year dividend.

Bakery chain Greggs was having a much better time. Its shares puffed 11% higher to £13.73 as it upgraded its expectations for full-year profits on the back of strong October and November sales of sausage rolls, sandwiches and pizzas.

Meat producer Cranswick was flat at £28.74 as softer pricing in Asian export markets kept a lid on revenues and bottom-line profit fell, all despite the warm summer extending the UK barbecue season.

Pet-product retailer and vet group Pets at Home Group booked an 81% fall in first-half profit, as margins shrank and it decided to buy back some struggling joint venture practices in its veterinary network. Losses in its shares, however, were limited to 1.1% at 113.3p.

Quality assurance provider Intertek added 2.3% to £47.52 amid a modest rise in revenue in the 10 months through October.

Water utility Pennon climbed 1.3% to 765.9p as demand over Britain's warm summer buoyed profits.

SMALL CAP RISERS AND FALLERS

Fashion retailer Quiz ticked up 0.2% to 43.6p after soaring online sales helped it book a 4% rise in first-half profit.

Ingredient and flavouring supplier Treatt gained 1.8% to 450p as it posted a slight fall in annual profit owing to costs associated with relocating its UK headquarters. Its underlying earnings, revenue and dividend all rose.


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