Stock markets fall amid fresh worries over US-China trade deal – business live

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Fears mount that ‘phase one’ trade deal may not be signed until next year, as both sides step up demands and US legislation on Hong Kong angers China

In London, Royal Mail is the biggest faller on the FTSE 250. The shares tumbled more than 12% to 202.9p after the company said its transformation is behind schedule. Royal Mail reported a fall in first-half profit before tax to £146m from £182m. Rico Back, the chief executive, warned of a tough outlook, especially for letters, even though there will be a boost from next month’s general election. The company is investing £1.8bn in an attempt to turn the business around.

 

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