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Huawei ban fans China-U.S. worries, hits FTSE 100; Thomas Cook slumps

Published 05/16/2019, 03:40 PM
Updated 05/16/2019, 03:50 PM
Huawei ban fans China-U.S. worries, hits FTSE 100; Thomas Cook slumps

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 down 0.3%
* FTSE 250 up 0.3%
* Thomas Cook slumps to multi-yr low
* Burberry down after FY report
* Sophos surges on better-than-expected profit

May 16 (Reuters) - Britain's FTSE 100 retreated on Thursday
as U.S. curbs on telecom group Huawei further strained relations
between Beijing and Washington, while travel group Thomas Cook
dipped to a 6-1/2-year low on another profit warning.
The main index .FTSE edged 0.3% lower by 0716 GMT, while
strong earnings reports helped the midcaps .FTMC climb 0.3%
higher.
Despite reports that differences with Beijing as well as
Europe may dissipate, U.S. President Donald Trump upped the ante
with China once again, signing an executive order on telecoms
citing national security and effectively blacklisting Huawei
HWT.UL . Asia-focused stocks including HSBC HSBA.L and Prudential
PRU.L reeled in response.
Luxury brand Burberry BRBY.L , whose shares have recently
been hit due to Sino-U.S. trade tensions, gave up 3.2% after
reporting broadly flat full-year results. Thomas Cook TCG.L , the world's oldest travel firm, slumped
13% to levels not seen since November 2012 after saying economic
and political uncertainty would affect profits this summer.
Larger rival TUI TUIT.L fell 1.2% following Thomas Cook's
profit alert.
On the FTSE 250, cyber security firm Sophos SOPH.L surged
16%, tracking its best day in over a year, after reporting key
metrics above market expectations.

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