LONDON MARKETS: Hong Kong Protests Hit London Markets
August 12 2019 - 8:16AM
Dow Jones News
By Dave Morris
London markets were dragged down by protests in Hong Kong
impacting the shares of British banks doing business there.
How did markets perform?
The U.K.'s FTSE 100 index sank as Hong Kong's airport protests
drove major banks including HSBC PLC (HSBA.LN) and Standard
Chartered PLC (STAN.LN) sharply downward.
The pound rebounded slightly from a disastrous few sessions,
with traders taking stock of last week's dramatic moves lower.
What's moving the markets?
Pro-democracy protesters in Hong Kong shut down the city's
airport
(http://www.marketwatch.com/story/hong-kong-airport-cancels-flights-as-demonstrators-pour-in-2019-08-12),
and clashed with police after the 10th consecutive weekend of
disruption. Protesters filled the terminals Monday, expanding a
smaller sit-down protest that has run since Friday.
U.S. President Donald Trump continued firing Twitter salvos in
the country's trade dispute with China on Saturday. Trump said
China badly wanted to make a deal with the U.S., and that they may
want to wait to see if a Democrat wins the election in 2020 "so
they can continue the great ripoff of America". The tweets cast
doubt over whether talks scheduled to be held in September would
take place.
Which stocks are active?
Tullow Oil PLC (TLW.LN) shares leapt when it released a
statement Monday morning announcing the oil it had discovered in an
exploration well off Guyana had exceeded its forecast.
NMC Health (NMC.LN) shares continued to fall despite reaffirming
its full-year earnings guidance in a statement last week, saying
business was still in line with its previous views.
(END) Dow Jones Newswires
August 12, 2019 08:01 ET (12:01 GMT)
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