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The Markets
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The Markets
by Proactive
Proactive UK has moved.
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Energy

Footsie falls amid downbeat China data and EU vote fears

The Footsie fell 15 points to 6101 after the Shanghai Composite closed lower

The FTSE 100 Index got the trading week off to a negative start amid downbeat Chinese economic data and EU referendum jitters.

The Footsie fell 15 points to 6101 after the Shanghai Composite closed lower as fixed asset investment hit a worse-than-expected 10-year low.

Ipek Ozkardeskaya at London Capital Group said : “Chinese private investment is having a hard time picking up momentum, as private investors appear sceptical to buy into the economic stabilisation story.”

The pound took a fresh hit after the latest EU referendum polls suggested a tight gap between the ‘remain’ and ‘leave’ camps. Sterling fell to 1.4157 against the dollar in Asia.

Small-cap indices were in negative territory as Fitbug Holdings PLC (LON:FITB) announced wider losses and a change of strategy, sending its shares down 14.8% to 0.58p.

Golden Saint Resources Ltd (LON:GSR) backtracked 8.6% to 0.08p on news of a placing to raise £400,000.

But Triad Group Plc (LON:TRD) ticked up 24.75% to 31.5p as the digital, engineering and energy consultancy posted higher annual revenue and profits.

Union Jack Oil PLC (LON:UJO) spurted 6.5% to 0.165p on news of its acquisition fropm Egdon Resources plc (LON:EGD) of an 8.33% economic interest in the PEDL182 block in Lincolnshire on the western margin on the Humber Basin containing the Broughton North prospect.

And Metals Exploration (LON:MTL) advanced 5.7% to 7p as it announced that the Runruno gold project in the Philippines had successfully poured its first gold as part of its ongoing "test running and debugging" of processing plant and related operations.

Back among larger stocks, satellite operator Inmarsat Plc (LON:ISAT) brightened 2.6% to 722p after it unveiled a strategic partnership with shipping broadband specialist SpeedCast International Ltd (ASX:SDA) to roll out Inmarsat’s Fleet Xpress service to about 2,000 vessels

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