FTSE LIVE: UK manufacturing slides to seven-year low; Channel tunnel firm ‘ready for a no-deal Brexit’; US-China trade war escalates
- Channel tunnel operator GetLink insists it is ‘ready for a no-deal Brexit’
- There was a marked escalation in the US-China trade war overnight
- The latest UK manufacturing figures show activity slid to a 7-year low
The pound is flashing red on Monday morning at the start of a potentially turbulent week for the currency.
While it is predominately focused on Brexit, sterling slid on the back of weaker-than-expected manufacturing figures, which were released at 9.30am.
Meanwhile, Channel tunnel operator GetLink said it is ‘ready for a no-deal Brexit’ and prepared to deal with the potential new customs regulations.
Global investors are likely to have the trade war jitters again today after the US imposed fresh tariffs on $112billion of Chinese imported goods, including shoes and food, and Beijing retaliated with a 5 per cent tariff on US crude oil.
It marks a dramatic escalation in the ongoing row between the world’s two biggest economies.
At the open: FTSE 100 in the green, up 0.4 per cent at 7,236