FTSE LIVE: UK manufacturing slides to 7-year low; Channel tunnel firm ‘ready’ for Brexit

by

FTSE CLOSE: 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

By Emily Hardy For This Is Money

Published: | Updated:

The FTSE 100 closed up 74.76 points at 7281.94 and the pound was at $1.21 against the dollar.

The pound fell at the start of a potentially turbulent week for the currency.  While the move was predominately focused on Brexit, sterling also slid on the back of weaker-than-expected manufacturing figures released this morning. 

Meanwhile, Channel tunnel operator GetLink said it is ‘ready for a no-deal Brexit’ and prepared to deal with the potential new customs regulations.   

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.   

 

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.



Source link