The FTSE 100 closed down 0.45% in London on Tuesday despite a stellar day for brewer SABMiller.
SABMiller ended the day up 9% at £39.48 after reaching an agreement on a £44 a share takeover offer from US rival AB InBev. The mammoth deal values SAB, which makes beers such as Peroni and Fosters, at over £71 billion.
SpreadEx’s financial analyst Connor Campbell blamed the FTSE 100’s fall on “this morning’s pesky plunge in Chinese imports”, which hit commodity stocks.
Royal Mail was the biggest faller on the index, down 4.2%, after the government sold its final stake in the postie. Barclays also sank on reports that former JPMorgan banker Jes Staley is set to become the new CEO.
Here’s how the rest of Europe looks Tuesday afternoon:
German DAX: -0.83%
French CAC 40: -0.94%
Euro Stoxx 50: -0.76%