Sector movers: China data hits miners, oil retreats
Industrial metals, miners and other resources stocks were the main weight around the London market's neck on Friday after China data sparked renewed concerns.
Chinese industrial production in November grew 5.4% compared to the same month last year, with growth slowing from 5.9% in October and falling short of economists' predictions for it to remain at that level.
Retail sales growth in the People's Republic also slowed more than forecast, coming in at 8.1%, down from 8.6% and below the 8.8% that markets were expecting.
Analysts said the data was proof that China’s economy was facing pressures both domestically and on a world stage.
Julian Evans-Pritchard, senior China economist at Capital Economics, noted that Beijing’s attempts at intervention and propping up growth were still not enough.
“Even if China and the US can negotiate a lasting truce on trade, cooling global growth and the lagged impact of slowing credit growth will remain a headwind on economic activity in the coming months.”
Spreadex analyst Connor Campbell added: "It’s not only more evidence that the superpower’s economy is slowing down, but another reminder of the impact the trade tensions between the US and China are having, despite the stop-start progress made between the pair in the last fortnight or so."
This hit London's commodities related companies, but most still remained higher over the week.
Oil retraced some of the previous day's substantial gains.
This was due to dollar strength and weaker economic data across Asia, and Europe weighing on prices, said Stephen Innes at Oanda. "But overall WTI continues to consolidate between $50 -$ 55 post-OPEC production cut as option volatility continues to decline substantially."
Top performing sectors so far today
Technology Hardware & Equipment 919.65 +1.39%
Travel & Leisure 9,065.08 +0.42%
Food Producers & Processors 6,731.10 +0.31%
Pharmaceuticals & Biotechnology 14,728.17 +0.25%
Media 7,751.97 +0.14%
Bottom performing sectors so far today
Industrial Metals & Mining 4,345.73 -3.16%
Industrial Engineering 10,328.31 -2.31%
Oil Equipment, Services & Distribution 11,277.96 -2.02%
Food & Drug Retailers 3,381.01 -1.86%
Chemicals 12,823.56 -1.80%
Market Movers
FTSE 100 (UKX) 6,838.31 -0.57%
FTSE 250 (MCX) 17,672.73 -0.82%
techMARK (TASX) 3,355.92 -0.19%
FTSE 100 - Risers
GVC Holdings (GVC) 725.50p 9.67%
Paddy Power Betfair (PPB) 6,595.00p 2.65%
International Consolidated Airlines Group SA (CDI) (IAG) 617.40p 1.15%
Land Securities Group (LAND) 840.60p 1.03%
Pearson (PSON) 944.20p 1.03%
Ocado Group (OCDO) 812.00p 0.94%
Admiral Group (ADM) 1,980.00p 0.58%
Relx plc (REL) 1,628.50p 0.52%
Melrose Industries (MRO) 159.05p 0.51%
Standard Life Aberdeen (SLA) 245.10p 0.45%
FTSE 100 - Fallers
Evraz (EVR) 464.10p -3.97%
Persimmon (PSN) 1,892.00p -2.95%
Barratt Developments (BDEV) 440.90p -2.61%
Tesco (TSCO) 193.70p -2.47%
Berkeley Group Holdings (The) (BKG) 3,421.00p -2.20%
Antofagasta (ANTO) 777.20p -2.19%
Royal Mail (RMG) 295.50p -2.12%
Imperial Brands (IMB) 2,371.50p -2.09%
Kingfisher (KGF) 225.40p -2.04%
Wood Group (John) (WG.) 568.40p -2.00%
FTSE 250 - Risers
Indivior (INDV) 95.10p 6.88%
Bakkavor Group (BAKK) 144.00p 6.67%
Vivo Energy (VVO) 119.28p 4.17%
Balfour Beatty (BBY) 256.20p 4.10%
Ultra Electronics Holdings (ULE) 1,340.00p 3.32%
888 Holdings (888) 165.30p 3.31%
Contour Global (GLO) 168.30p 3.25%
Fisher (James) & Sons (FSJ) 1,702.00p 3.15%
William Hill (WMH) 161.40p 2.90%
Hikma Pharmaceuticals (HIK) 1,835.50p 2.74%
FTSE 250 - Fallers
Dixons Carphone (DC.) 137.05p -5.52%
Plus500 Ltd (DI) (PLUS) 1,364.00p -5.41%
G4S (GFS) 186.15p -4.93%
Capita (CPI) 108.90p -4.89%
Moneysupermarket.com Group (MONY) 277.40p -4.77%
Crest Nicholson Holdings (CRST) 320.00p -4.76%
Galliford Try (GFRD) 606.50p -4.71%
Man Group (EMG) 126.45p -4.60%
Thomas Cook Group (TCG) 28.62p -4.60%
FDM Group (Holdings) (FDM) 760.00p -4.40%