News Formal

UK shares weaken, Tullow loses half its market cap | Malay Mail

  • 📰 malaymail
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 86%

Business News News

Business Business Latest News,Business Business Headlines

LONDON, Dec 10 ― London's exporter-heavy FTSE 100 inched lower yesterday as oil majors and Asia-exposed financials fell on China growth worries and as the pound strengthened, while a 72 per cent slump in Tullow Oil single-handedly dragged down midcaps. The blue-chip index was gave up 0.1 per...

A shopper passes a Tesco supermarket in London. Tesco topped the bluechip index with a 5 per cent rise after the retailer started a review of its operations in Thailand and Malaysia. — Reuters pic

The FTSE 250 midcap index was also down by the same level, with Tullow Oil recording its steepest one-day fall since early 2004 after the oil and gas explorer scrapped dividend and announced the exit of its CEO. Helping limit losses on the midcap bourse was engineering firm Senior Plc, which jumped 7 per cent on news that it was reviewing options for its aerostructures business. Marks & Spencer added 3.5 per cent after a double upgrade from Goldman Sachs.

Investors were also trying to size up the chances of a new round of US tariffs on US$156 billion worth of Chinese goods from December 15.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Malaysia well-placed to help local firms tap into global market, says Alibaba Group | Malay MailKUALA LUMPUR, Dec 10 — As a multicultural society with a keen interest in embracing the digital economy, Malaysia is well-positioned to help local enterprises to tap into the some of the largest markets across the globe, said Alibaba Group. Its global initiatives vice president, Brian Wong, said...
Source: malaymail - 🏆 1. / 86 Read more »