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

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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.

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