Trade fears see FTSE 100 surrender gains

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Oil prices and stocks fell amid an apparent escalation in the US-China trade war. After China announced tariffs on US goods and president Trump threatened retaliation on Twitter.

The FTSE 100 was down 0.5% by the close at 7,094.98, while in the US the S&P 500 was 1.7% lower to 2,872.80 by 4.30pm UK time.

Entertainment One jumped 33.4% to 591.5p after it accepted a £3.3bn offer from US toy maker Hasbro, pitched at 560p per share.

The rally above the bid price indicated some shareholders are holding out for a potential rival bid.

Retailer Marks & Spencer fell 2.2% to 187.6p ahead of its likely relegation from the FTSE 100 in the looming September reshuffle.

LARGE AND MID CAP RISERS AND FALLERS

Computer services company Computacenter rallied 1.7% to £14.23 as it reported slightly lower half-yearly profits but forecast a better performance in the second half.

Pharmaceutical giant GlaxoSmithKline advanced 1.2% to £16.95, having achieved a positive response rate for a blood cancer treatment during a clinical trial.

Property investment and development company Henry Boot rose 2.6% to 240p, even as it booked a fall in first-half profit owing to lower development activity.

Target Healthcare fell 0.2% to 117.4p as it acquired two care homes in Ripon, Yorkshire and Stourport, West Midlands, for around £18.6m combined.

SMALL CAP RISERS AND FALLERS

Adept4 surged 111.7% to 2.65p after it announced plans to acquire rival Cloudcoco in a reverse takeover.

Recruitment firm Norman Broadbent was up 58.9% to 7.15p as directors and shareholders snapped up the stake sold by cornerstone investor Garraway Capital.

Eddie Stobart Logistics suspended trading in its shares and announced that Alex Laffey would stand down as chief executive as the company investigated a probe into an accounting error. The company also said it would review its dividend.

Cake decorations and ingredients supplier Real Good Food gained 5.9% to 6.75p after it announced it had secured an £8.9m credit facility to repay debts owed to its shareholders.

ADM Energy, previously MX Oil, slumped 39.2% to 7.3p as Sheikh Ahmed Bin Dalmook Al Maktoum offloaded his holding in the company and resigned from the board.