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Wednesday, 20 November 2019 08:00 GMT

UK and European stocks opened lower after U.S. President Donald Trump threatened to hike tariffs on Chinese goods if Beijing does not agree to a trade deal.

Asia stocks declined as U.S. President Donald Trump threatened to raise tariffs on Chinese goods if the two economic powerhouses do not strike a deal.

The dollar and the safe-haven yen edged higher versus peers, but not much, as a lack of clarity on U.S.-China trade talks kept investors cautious.

Oil prices slipped as a surge in U.S. stockpiles reinforced concerns about lacklustre global economic growth, while hopes ebbed for any movement on the U.S.-China trade war.

Gold inched up after U.S. President Donald Trump threatened to raise tariffs on Chinese imports if no deal is reached with Beijing and as the U.S. Senate passed a bill backing human rights in Hong Kong.

In corporate news, DIY group Kingfisher reported a "disappointing" 3.2% fall in third quarter sales in softer markets. Total sales fell to down 3.2% to £2.95bn on a constant currency basis. On a like-for-like basis the decrease was 3.7% reflecting continuing disruption from new range implementations, lower promotional activity and ongoing operational challenges in France.

Sage Group reported a 5.6% improvement in its organic total revenue for the year to £1.82bn, which it said reflected growth in recurring revenue of 10.8% underpinned by software subscription revenue growth, offset by a decline in SSRS revenue and a decline in processing revenue.


At 08:21
FTSE 100 7,275 (-0.65%)
FTSE 250 20,428 (-0.49%)
DAX 13,135 (-0.65%)

At the close
Dow Jones 27,934 (-0.36%)
S&P 500 3,120 (-0.06%)
NASDAQ 8,570 +0.24%

Fixed Income

UK 10-YR YIELD 0.68

Exchange Rates

GBP/USD 1.290
GBP/EUR 1.166


Gold $1,478 +0.40%
Brent $60.34 (-0.76%)

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