StockMarketWire.com - Signs of Trump's trade wars escalating on several fronts are dogging global markets and the FTSE 100 closed down 0.8% on Friday at 7,161.71.

All told the index of leading UK shares fell more than 3% in May while the S&P 500, down another 0.7% by 4.30pm UK time today, was on course for a more than 6% monthly decline.

Traditional safe havens in the utility sector bucked the negative trend, Severn Trent advancing 1.6% and SSE ahead by 3.2%.

LARGE AND MID CAP RISERS AND FALLERS

Legal & General slipped 1.2% on announcing that it agreed to sell its general insurance business to Allianz Holdings for at least £242m.

Infrastructure group Balfour Beatty gained 1% after being selected, in a joint venture, to deliver the $1.7bn Interstate 635 LBJ East road project in Texas.

Eastern European focused budget carrier Wizz Air descended 2%, despite booking a 6% rise in full-year net profit, as it foreshadowed another 'very challenging' operating environment in the year ahead.

SMALL CAP RISERS AND FALLERS

Online gambling group Stride Gaming jumped 26% after it received a £114.5m takeover approach from Rank Group pitched a 151p per share.

Media and entertainment business Time Out dipped 2.1% as it prepared to open a new food market in New York to the public on Friday.

Argentina-focused Patagonia Gold jumped 15.1% on news that it had agreed to be acquired by Canada's Hunt Mining in a reverse takeover deal for around £17.2m.

Out-of-hospital care group Totally slumped 9.4% after it announced a discounted share issue to fund the acquisition of NHS urgent care provider Greenbrook Healthcare for £11.5m.

Legal and professional services business Gordon Dadds fell 1.6% on revealing that it had changed the brand name of its legal businesses to 'Ince' following an internal review.


Story provided by StockMarketWire.com