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LONDON (Alliance News) - The FTSE 100 slipped to a seven-week low on Monday as renewed US-China trade war fears gripped markets, with the world's two largest economies slapping tit-for-tat tariffs on one another. Miners ended among the worst performers on fears of a slowdown in China, while Evraz sank on a rating downgrade and Vodafone slipped ahead of its annual results on Tuesday.The FTSE 100 index closed down 39.61 points, or 0.6%, at 7,163.68, having slipped to a seven-week low of 7,150.89 earlier in the session. The FTSE 250 ended down 239.92 points, or 1.2%, at 19,126.88, and the AIM All-Share closed down 6.36 points, or 0.7%, at 950.97.The Cboe UK 100 ended down 0.6% at 12,157.99, while the Cboe UK 250 closed down 1.2% at 17,214.78, and the Cboe Small Companies ended down 0.2% at 11,703.79."Today's trading activity has had a very 'risk off' flavour to it, as concerns about further escalations in the China, US trade narrative, turned very quickly into reality," commented Michael Hewson, chief market analyst at CMC Markets. Hewson explained: "For most of this year markets have been rising on the prospect of a likely deal, and now are faced with the prospect that any deal is further away than ever."These worries came as China announced it would raise tariffs starting on June 1 to up to 25% on USD60 billion worth of US imports.Initially these goods had tariffs of 5% to 25%, and tariffs will now be increased on some of them to up to 25%, the State Council's Customs Tariffs Commission said on Monday.The increased import duties are a reaction to US unilateralism and trade protectionism, the Beijing authorities said.On Friday, the White House raised tariffs on USD200 billion worth of Chinese imports from 10% to 25% and announced plans to raise tariffs on USD300 billion of remaining Chinese imports.The move comes after the latest talks between US and Chinese trade negotiators in Washington failed to reach a resolution to the countries' months-long trade conflict.The DAX 30 in Germany was hit particularly hard by the ramp-up in trade tensions. "There is some concern that US authorities may turn their attention to the EU at the end of this week, particularly in the auto sector," Hewson noted. "These have seen the biggest declines on the DAX with Daimler shares down the most."In European equities on Monday, the CAC 40 in Paris ended down 1.2%, while the DAX 30 in Frankfurt ended down 1.5%.The pound was quoted at USD1.2960 at the London equities close Monday, down from USD1.3030 at the close on Friday. Meanwhile, the euro stood at USD1.1234 at the European equities close Monday, against USD1.1241 at the same time on Friday.Over in the US, stocks in New York were sharply lower at the London equities close, with the DJIA sinking 2.2%, the S&P 500 index also down 2.2%, and the Nasdaq Composite diving 3.0%.US stocks exposed to China were knocked hard, CMC's Hewson highlighted, such as Apple, Tesla and Boeing. Shares in iPhone maker Apple were 5.0% lower in morning trade, electric car manufacturer Tesla down 4.6% and aerospace firm Boeing down 2.8%London stocks were also dented by the latest tit-for-tat move between the US and China, with commodity-exposed stocks sliding on fears of a slowdown in China. Miners such as Antofagasta, Glencore and BHP Group closed down 4.1%, 3.4% and 1.6% respectively. Among other fallers in the FTSE 100, Vodafone shares closed down 5.1% as investors prepared for a reduced dividend alongside the telecommunication firm's annual results on Tuesday. Ahead of the release, The Sunday Times over the weekend reported the firm is set to reduce its dividend in order to invest in 5G mobile networks. Russian steelmaker Evraz fell 5.3% after Morgan Stanley cut its rating on the stock to Underweight from Equal Weight.Meanwhile, British Gas owner Centrica ended the session as the best performer, up 2.9% as it backed its annual outlook despite numerous headwinds at the start of the year.Centrica said trading for the first four months of 2019 was in line with expectations but warned issues such as warmer weather, the UK tariff cap, and falling natural gas prices are hampering performance.The FTSE 100 constituent nevertheless held 2019 guidance for adjusted operating cash flow and net debt.Centrica, whose Consumer unit lost 234,000 UK customer accounts during the four-month period, is to provide a strategic update when it releases interim results in July.Shares in Royal Dutch Shell were boosted after HSBC upgraded the stock to Buy from Hold, lifting 'A' shares 1.1% higher and 'B' shares up 1.3%. In addition, the oil major was helped as the price of Brent gained. Brent oil was quoted at USD70.84 a barrel at the London equities close Monday, up from USD70.35 late Friday.Peer BP rose 1.3%.Two Saudi Arabian oil tankers were significantly damaged in a "sabotage attack" in waters off the United Arab Emirates, Saudi Energy Minister Khalid al-Falih said on Monday.The oil was to be delivered to US customers of state-run oil company Saudi Aramco, the minister said, adding that the attack did not lead to casualties or an oil spill.Al-Falih said the attack was aimed at undermining the security of oil supplies to consumers worldwide, the statement said. The statement came after the UAE said that four commercial ships were targeted in an incident off the coast of Fujairah.Arab League Secretary General Ahmed Abul Gheit said the incident could "lead to further escalation in the region".Gold also benefited on Monday amid the risk-off environment, quoted at USD1,297.85 an ounce at the London equities close Monday against USD1,287.50 at the close on Friday.Back in London, Stobart Group fell 9.7% after the Southend airport owner said its annual results would be delayed by a fortnight.The "limited additional time" required for the results was due to a series of items related to its involvement in a new joint venture to buy troubled budget airline Flybe Group back in February.Troubled lender Metro Bank dipped 6.3% as it revealed plans for its GBP350 million equity raise are "well advanced".The lender said it has started its final talks with both existing shareholders and new investors and received positive feedback, with the equity raise to complete via a placing by the end of the second quarter of 2019.The bank said Monday it was responding to "recent press speculation".An article in the Financial Times on Friday last week said there had been some concern that the GBP350 million was not enough to support Metro Bank's capital position and it may be "forced to raise a larger amount".The FT on Monday then reported Metro Bank is considering selling a portion of its loan book that was found to have misreported its risk.The challenger bank's share price has tumbled 70% since the start of 2019 alone.In the UK corporate calendar on Tuesday are annual results from telecommunications firm Vodafone, sales, marketing and support services firm DCC and property investor Land Securities. In Tuesday's economic calendar, Japan's trade balance is at 0050 BST followed by German consumer price inflation at 0700 BST and UK jobs data at 0930 BST. Later is eurozone industrial production at 1000 BST and US import and export indexes at 1300 BST.