The FTSE 100 slumped and pound climbed to a one-month high, as Donald Trump’s inauguration speech and protests over his presidency took a bite out of the US dollar.
Magellan Petroleum shareholders have approved a strategic exchange transaction.
The London market came under pressure as gloom over the state of the nation’s finances overshadowed figures revealing the economy grew faster than first thought in 2015.
The Footsie climbed, as Sky said that James Murdoch will return to the broadcaster as chairman, almost four years after his resignation in the wake of the phone-hacking scandal.
European stock markets opened lower following steep overnight losses in Asia, amid concerns over sliding oil prices and slowing world growth. In London, the FTSE 100 Index fell just under 1%, or 52.3 points to 5826.2, after China’s Shanghai Composite tumbled more than 6% as traders also worried over easing growth in the world’s second largest economy.
The Footsie closed down as falling oil prices kept global markets under pressure, but Tesco shares surged after it revealed better-than-expected Christmas trading.
Transocean said the stock exchange in Switzerland has approved the company's application to delist its shares. The company, which yesterday announced a contract win with Faroe Petroleum, said the SIX delisting will come into affect from the end of March next year.
UK Oil & Gas (UKOG) said it has applied for admission of its shared capital to trading on the ISDX growth market. The admission is expected to take place next month on the London-based stock exchange which provides UK and international companies with access to European capital through listed and growth markets.
London’s top-flight was held back by another difficult session for its big oil and commodities stocks today amid a recovery in shares elsewhere. The FTSE 100 Index was 20.9 points lower at 6529.9 while Germany’s Dax and France’s Cac 40 were ahead, bouncing back from a tough few days for world markets in the previous week. Asian stocks were mixed overnight after figures showing the Japanese economy shrank in the second quarter - with Tokyo’s Nikkei ahead on hopes that it would mean more stimulus for the region’s second biggest economy.