FTSE 100

Today's data summary

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% change
As of 07:37 11 Dec 2018

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Investors search for silver lining

The FTSE 100 is now largely flat at 6,773.78 while the FTSE 250 is down 1% at 17,658.71.

In Paris, the CAC-40 is off 0.71% while in Germany, the Dax is down 0.63%.

Stephen Innes, head of trading at OANDA, says: "Another day, another reason to sell risk. Equity markets remain in a world of pain with everyone in search of a very elusive silver lining."

London shares trade lower

London Stock Exchange
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London shares have continued to slip, in line with other European stock markets, on the eve of the UK parliament's vote on Prime Minister Theresa May's Brexit deal.

The FTSE 100 is down 0.3% to 6,758.91, with the losers led by Barratt Developments, which has fallen 4% to 456p. Top of the winners is mining giant Randgold Resources, which has risen 1.5% to £67.66.

The FTSE 250 has dropped 113 points or 0.6% to 17,731.12. Top of the losers is Thomas Cook, which is down 7.8% to 28.5p as its shares continue to fall after its second profit warning in two months.

The top riser on the index is retirement financial services firm Just Group, which has jumped 18.8% to 96.3p.

UK stocks open lower

The FTSE 100 has opened down 0.25% at 6,761.24.

The FTSE 250 is also lower, off 0.36% at 17,779.97.

OPEC deal boosts oil stocks

Oil pumps
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The FTSE 100 ended the week on the up, closing 1.28% ahead at 6,789.74.

John Wood Group, the oil services business, finished the day at the top of the blue chip risers, with its share price up 4.42% at 628p.

A production cut by OPEC and its allies sent oil companies to the top of both indexes.

On the FTSE 250, Premier Oil's share price rose 14.75% to 75.85, followed by Tullow Oil, up 7.4% at 189.6p and Cairn Energy, ahead 4.8% at 167.7p.

An earlier statement by Primark that it had experienced a "challenging November" meant that its parent company, Associated British Foods, was the biggest faller on the FTSE 100.

Its share price fell 4.6% at £22.42.

The FTSE 250 ended 0.51% higher at 0.51% at 17,844.11.

Tesco shares lead FTSE 100 higher

Tesco shares

Tesco shares are leading the FTSE 100 higher with a 5% gain.

Probably helping are a couple of positive comments from analysts in the City.

Analysts at Exane BNP Paribas think that profit margins could improve.

And a UBS analyst says there is a "decent possibility" that Tesco might buyback shares next year.

Investors might also have been sniffing a bargain - since August Tesco shares have fallen by around a quarter.

'Biggest one day fall since Brexit vote' for the FTSE 100

The Guardian business reporter Graeme Wearden tweets...

FTSE 100 closes down 3.5%

The FTSE 100 has finished an extremely rocky day of trading, down 3.5%, or 244 points, at 6,677.74.

Insurance group Prudential ended Thursday as the biggest blue chip faller, down 7% at £13.98, followed by mining giant Antofagasta, off 6.9% at 761.1p and industrial conglomerate Melrose whose shares shed 6.1% to end at 156p.

Only two companies rose on the FTSE 100 - both miners.

Randgold Resources rose 3% to £65.76 while Fresnillo added 1.4% to 785.8p.

Meanwhile, over in Europe...

Huawei's chief financial officer Meng Wanzhou
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Huawei's chief financial officer Meng Wanzhou

The FTSE 100 is trading down 2.54% at 6,745.92.

The French CAC-40 is down 2.59% at 4,816.56 and in Germany, the DAX is down 2.84% at 10,883.23.

There is an absolute plethora of reasons why traders are spooked but one major factor is the arrest of Huawei's chief financial officer Meng Wanzhou in Canada.

Her arrest - and possible extradition to the US for allegedly violating American sanctions against Iran - have raised concerns it could mar talks between the US and Chinese over trade just days after the two nations agreed a 90-day truce.

UK stock market closes down

The FTSE 100 has closed down 0.56% at 7,022.76 while the FTSE 250 finished 1.26% lower at 18,329.64.