European shares finished near their worst levels of the session as investors took stock of the stalemate in US-China trade talks during the previous week and stockmarkets across the Pond reeled on the risk for a more protracted and costly trade spat.
London stocks retreated on Monday as Beijing and Washington exchanged threats of further tariffs in the wake of last week's largely unexpected stalemate in Sino-US trade talks, with defensive issues clearly in favour.
Neil Woodford has taken his stake in Card Factory to more than 10% as the struggling star investor bets on a revival of fortunes at the retailer.
The spotlight on Tuesday is likely to continue to be on the ongoing US-China trade talks, especially following Monday night's announcement of Washington's plans to extend its tariffs to cover all Chinese exports.
London's FTSE 250 was up 0. 8% at 19,442. 72 in afternoon trade on Friday, with shares of Metro Bank slumping even as it said plans to raise £350m of equity capital were well advanced after it was forced to reassure customers their money was safe.
Deputy governor of the Bank of England Ben Broadbent warned on Monday that another Brexit delay might damage the long-term economic outlook as the resulting uncertainty weighed on investor spirits.
China will raise tariffs on $60bn-worth of US exports in retaliation for the latest decision from Washington to increase levies on $200bn of Chinese goods from 10% to 25%.
The European Union has prepared a list of American exports that will be subjected to tariffs on 18 May should the US go ahead with $53bn-worth of levies on the bloc's car and auto parts exports.
InnovaDerma non-executive director Ross Andrews purchased 15,000 ordinary shares in the London-listed hair and skincare products manufacturer on Monday.
London's FTSE 100 was down 0. 4% at 7,174. 02 in afternoon trade on Monday as China retaliated against the US with $60bn worth of tariffs.
Honda has confirmed that it will close its factory in Swindon in 2021, putting around 3,500 jobs at risk.
US stocks fell sharply at the bell on Monday as China announced it would be slapping increased tariffs on more than $60bn- worth of US imports from 1 June.
Braemar Shipping Services is shaking up its technical division in a deal worth more than £6m with Norway's Aqualis.
MyCelx Technology swung to an annual profit with revenue almost doubling on the back of contract wins in Saudi Arabia, Canada and Australia.
Analysts at HSBC revised their recommendations for Royal Dutch Shell's A and B shares from 'hold' to 'buy' following the oil major's latest quarterly figures, telling clients that they saw "little in general to give us concerns on the outlook. ".
Citi upgraded its recommendation on Marks & Spencer shares to buy' from 'neutral' on Monday, as it argued that the investment case is "evolving".
ClearStar said on Monday that it swung to a full-year profit as revenue hit a record level.
European shares have fallen into the red with stockmarkets on the Continent tracking losses in US equity futures amid signs that the US-China trade stand-off might take longer than expected to resolve.
Angling Direct on Monday reported annual revenue growth, though the business swung to a loss after administrative expenses and cost of sales mounted up.
Marks & Spencer: Citigroup upgrades to buy with a target price of 330p.