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SSE Share News (SSE)

Stock Market news at lse.co.uk - RSS News Feeds

Share News for SSE (SSE)


Share Price: 1,105.50Bid: 1,109.00Ask: 1,110.00Change: -16.50 (-1.47%)Faller - Sse
Spread: 1.00Spread as %: 0.09%Open: 1,130.00High: 1,131.00Low: 1,105.50Yesterday’s Close: 1,122.00




UPDATE 2-U.S.-China trade concerns weigh on FTSE 100

Tue, 7th May 2019 09:44

* FTSE 100 down 1.6 percent; FTSE 250 down 1.2 percent

* G4S slips after Garda World drops takeover plan

* Domino's Pizza down on weak trading update

* Banks, oil majors are biggest drags on main index (Adds news items, analyst comment, updates to closing prices)

By Muvija M and Yadarisa Shabong

May 7 (Reuters) - Britain's main stock index tumbled to a near six-week low on Tuesday as investors returned from a long weekend to a threat of more U.S. tariffs on China that triggered a selloff led by oil majors and banks.

The FTSE 100 slumped 1.6 percent, while midcaps were 1.2 percent lower.

HSBC and Prudential fell as U.S. President Donald Trump's threat to impose additional tariffs on Chinese goods hit Asia-exposed financial stocks.

Oil majors Shell and BP suffered their worst day since early December as the trade nerves fanned concerns about global growth and demand.

Industrial groups Melrose and Ashtead lost 5.8 percent and 3.5 percent respectively.

"There is a sense that the U.S. is working extremely hard to extract last-minute concessions from China ahead of a planned visit by Vice-Premier Liu He," Neil Wilson, an analyst at Markets.com, said.

All but one blue-chip sector ended in the red as investors steered away from riskier assets and moved to defensive stocks, viewed as better bets in times of economic uncertainty.

That benefited Utilities SSE and Centrica, and pharmaceutical groups Hikma and AstraZeneca were also higher.

Volumes were high after markets were shut for a holiday on Monday. The FTSE 100's volume was 130 percent of its daily average, and the FTSE 250's stood at 110 percent.

A further blow to equities was the European Commission cutting its quarterly growth forecast for the euro zone.

"The timing of the EU’s announcement isn't great, but global trade tensions are likely to hurt the region," said CMC Markets analyst David Madden.

The more domestically-focused midcaps were also weighed down by a weaker pound, which dipped on rising concerns about the progress of Brexit negotiations and worries UK Prime Minister Theresa May is facing a mounting challenge to her leadership.

Security group G4S gave up nearly 3 percent after Garda World said on Sunday it would not make an offer for the company, while Essentra skidded 4.8 percent after a rating downgrade by Stifel.

Domino's Pizza, Britain's biggest pizza delivery firm, dipped 1.5 percent as the company said it no longer expected its international business to break even this year. It earlier fell as much as 12 percent.

AIM-listed Purplebricks tanked 11.9 percent after the online estate agent said its founder and chief executive, Michael Bruce, would quit immediately as the company winds down its Australian operations and reviews its U.S. business. (Reporting by Muvija M in Bengaluru, editing by Dale Hudson and John Stonestreet)



(c) Copyright Thomson Reuters 2019. Click For Restrictions - https://agency.reuters.com/en/copyright.html







LIVE MARKETS-Closing snapshot: IG Group soars, Brexit-sensitive stocks bruised

* European shares down 0.1%; FTSE up 0.1% * Wall Street edges lower on fresh trade concerns * Marks & Spencer top loser in Europe after result
[22 May '19 16:57]

LIVE MARKETS-Europe stops bleeding

* European shares down 0.1%; FTSE up 0.1% * Wall Street edges lower on fresh trade concerns * Marks & Spencer top loser in Europe after result
[22 May '19 16:05]

Investors slap discount on UK utilities amid election worries

By Josephine Mason and Helen ReidLONDON, May 22 (Reuters) - British utility stocks are trading at a growing discount to euro zone peers as investors f
[22 May '19 15:35]

LIVE MARKETS-Hikvision hiccups

* European shares down 0.5% * Futures point to weak Wall Street open * FTSE up as pound weakens * Asian shares struggle for traction *
[22 May '19 13:52]

LIVE MARKETS-European elections: UK set to boost populist share of the vote

* European shares turn positive: +0.1% * FTSE up as pound weakens: +0.5% * Asian shares struggle for traction * US could blacklist Chinese
[22 May '19 12:43]

LIVE MARKETS-A meaty business

* European shares turn positive: +0.1% * FTSE up as pound weakens: +0.5% * Asian shares struggle for traction * US could blacklist Chinese
[22 May '19 11:48]

Britain's SSE to buy back shares worth $127 mln

May 22 (Reuters) - British energy supplier SSE on Wednesday announced a share buyback of up to 100 million pounds ($126.73 million) of its ordinary sh
[22 May '19 11:44]

LIVE MARKETS-Will Europe ever outperform the U.S.?

* European shares open lower: -0.1% * FTSE up as pound weakens: +0.5% * Asian shares struggle for traction * US could blacklist Chinese su
[22 May '19 10:14]



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