FTSE LIVE: Stocks fall sharply at the open; Losses deepen at Stobart; Telford Homes hit by ‘subdued’ London market
- The FTSE was deep in the red after the bell, down 0.7 per cent at 7,219
- Southend Airport owner Stobart Group reported a £42.6m full-year loss
- Telford Homes said Brexit uncertainty cooled house sales in the capital
The blue-chip index took a tumble after the opening bell on Wednesday, falling 0.7 per cent as traders struggled to find anything other than the US-China trade war to focus on.
In company news, Southend Airport owner Stobart Group said its losses widened to £42.6million last year after it was hit by rising aviation costs and discontinued operations.
And housebuilder Telford Homes said it saw profits slide 13 per cent to £40million last year as it battled against a ‘subdued’ London market amid Brexit uncertainty.
Flashing red: The FTSE 100 is sharply lower at the open as traders struggle for fresh catalysts