(Sharecast News) - London stocks fell in early trade on Tuesday amid growing tensions between the US and China.
At 0830 BST, the FTSE 100 was down 0.7% at 6,085.36 after the US tightened its restrictions on technology company Huawei.

Spreadex analyst Connor Campbell said: "Just when you thought things were cooling off between the US and China, Washington goes and pokes the dragon.

"Days after the latest trade talks were indefinitely postponed, the United States announced further restrictions on Huawei Technologies, preventing the sale of any US-developed or produced chips to the Chinese company without a specific licence.

"On top of that, 38 affiliate companies with links to Huawei have been put on a trade blacklist, further tightening the noose around tech firm. This as Secretary of State Mike Pompeo claimed that Huawei had 'continuously tried to evade' the constraints announced back in May."

In equity markets, property website Rightmove was the worst performer on the top-flight index as Berenberg reiterated its 'sell' rating on the stock.

Mining giant BHP Group was also in the red after saying it would widen plans to exit coal operations and review opportunities to offload older oil and gas assets as it reported a 4% drop in full-year profits.

British Airways and Iberia parent IAG was weaker again amid ongoing concerns about the impact of Covid-related travel restrictions on the industry.

Cruise operator Carnival was on the back foot after saying it had detected a ransomware incident in which the data of its guests and employees was accessed.

On the upside, housebuilder Persimmon rallied despite reporting a slump in first-half profits, as it reinstated its dividend and said it had made an "excellent" start to the second half. Other housebuilders followed suit, with Taylor Wimpey and Barratt Developments also trading up.

Marks & Spencer gained after saying it was cutting 7,000 jobs in response to the collapse in retail spending caused by the pandemic and ensuing shuttering of its stores during lockdown.

Market Movers

FTSE 100 (UKX) 6,085.36 -0.69%
FTSE 250 (MCX) 17,645.09 -0.71%
techMARK (TASX) 3,843.57 -0.80%

FTSE 100 - Risers

Persimmon (PSN) 2,717.00p 3.98%
Fresnillo (FRES) 1,284.50p 2.64%
Taylor Wimpey (TW.) 122.70p 1.11%
Morrison (Wm) Supermarkets (MRW) 198.05p 0.94%
Polymetal International (POLY) 2,048.00p 0.69%
Ocado Group (OCDO) 2,394.00p 0.50%
Barratt Developments (BDEV) 523.80p 0.46%
Smith (DS) (SMDS) 283.90p 0.32%
BAE Systems (BA.) 537.00p 0.26%
Whitbread (WTB) 2,386.00p 0.04%

FTSE 100 - Fallers

Rightmove (RMV) 610.40p -3.33%
International Consolidated Airlines Group SA (CDI) (IAG) 180.00p -2.31%
BHP Group (BHP) 1,806.40p -1.89%
WPP (WPP) 609.20p -1.77%
Melrose Industries (MRO) 102.75p -1.63%
Standard Chartered (STAN) 410.20p -1.58%
Lloyds Banking Group (LLOY) 28.19p -1.52%
CRH (CRH) 3,002.00p -1.41%
Ashtead Group (AHT) 2,726.00p -1.37%
Prudential (PRU) 1,231.50p -1.36%

FTSE 250 - Risers

BlackRock Smaller Companies Trust (BRSC) 1,324.00p 4.09%
Watches of Switzerland Group (WOSG) 321.50p 3.38%
Hammerson (HMSO) 51.50p 2.39%
Bank of Georgia Group (BGEO) 812.00p 2.14%
Wood Group (John) (WG.) 216.60p 2.12%
Jupiter Fund Management (JUP) 217.60p 1.97%
Petropavlovsk (POG) 34.65p 1.91%
Vistry Group (VTY) 640.00p 1.91%
TI Fluid Systems (TIFS) 179.20p 1.70%
Marks & Spencer Group (MKS) 115.50p 1.67%

FTSE 250 - Fallers

Oxford Instruments (OXIG) 1,440.00p -4.64%
Safestore Holdings (SAFE) 750.50p -4.09%
National Express Group (NEX) 144.30p -3.15%
Carnival (CCL) 905.20p -3.12%
TP ICAP (TCAP) 304.20p -2.81%
Cineworld Group (CINE) 45.60p -2.73%
AJ Bell (AJB) 435.50p -2.68%
Hilton Food Group (HFG) 1,168.00p -2.67%
Gamesys Group (GYS) 1,084.00p -2.52%
Greencore Group (GNC) 122.10p -2.48%