Nov 17, 2017

FTSE 100 slides in early trade

The UK market slid as trading got under way, with United Utilities shares lower following a broker downgrade. Shares in United Utilities fell 3.1% after analysts at HSBC cut their rating on the water and sewage firm to "Hold". United Utilities was the biggest faller in the FTSE 100, with the benchmark index down 23.30 points at 7,363.64. Sky shares rose 2.7% after reports said Comcast and Verizon were interested in buying 21st Century Fox's 39% stake in the broadcaster. Outside the FTSE 100, the biggest mover was construction firm Carillion, which saw its shares plunge 30% after it issued another profit warning and said it expected to breach its financial covenants.

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