FTSE CLOSE: Eddie Stobart boss quits; Pound settles after strong rally

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FTSE CLOSE: Stocks tumble as US-China trade war reignites; Eddie Stobart boss quits as firm suspends shares; Pound settles after strong rally

  • The FTSE 100 closed down 0.5%, or 33.20 points, at 7,094.98 
  • Pound up 0.1% to $1.2275, but in the red against the euro, down 0.4% at €1.1013 
  • Eddie Stobart said its CEO Alex Laffey is standing down with immediate effect 

By Emily Hardy For This Is Money and Camilla Canocchi for Thisismoney.co.uk

Published: | Updated:

Eddie Stobart Logistics told shareholders today that it has applied for its shares to be suspended while it awaits clarification on the impact an accounting review will have on its results. 

Profits are expected to be significantly lower than anticipated and boss Alex Laffey has stepped down with immediate effect.  

The FTSE 100 ended the day in the red after China announced more tariffs on US goods

 

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