StockMarketWire.com - The pound weakened 0.5% after the UK Government lost its appeal against the Supreme Court, which means Parliament must vote before Article 50 is triggered to leave the European Union.

The blue chip index was flat at 7,150 as gains for mining and banking stocks failed push the FTSE higher.

Anglo American (AAL) and Rio Tinto (RIO) were the biggest gainers among the miners, while Royal Bank of Scotland (RBS) and Barclays (BARC) gained over 1.2%.

West Texas Intermediate was up 1.2% to $53.36 and Brent crude oil rose 0.8% to $55.66 per barrel, respectively.

Gold nudged lower to $1,213 per ounce, while copper rallied 2% to $5,930 per tonne.

In the US, the Dow Jones was 0.2% higher as a weak showing from pharmaceutical stocks Pfizer and Merck failed to drag the index lower.

Shanghai’s SSE Composite and Hong Kong’s Hang Seng closed 0.2% higher.

FTSE 100 RISERS AND FALLERS

Broadband provider BT (BT.A) cut its revenue, earnings and free cash flow forecasts for 2017 and 2018 as 'inappropriate' accounting behaviour in its Italian business was worse than expected.

An investigation had been launched, with auditor KPMG brought in, which resulted in a £145m adjustment.

New information revealed a larger write-down of £530m and BT cannot rule out further revaluations for prior years, which prompted a 18.7% sell-off in the shares to 311p.

Mobile phone retailer Dixons Carphone (DC.) was boosted by a strong Christmas quarter as it will now beat forecasts for the period. Dixons maintained guidance for the full year and was reassuring news after a spate of recent profit warnings from UK high street operators.

Budget-friendly airline EasyJet (EZJ) reported first-quarter revenue, cost and passenger numbers met expectations but said forward bookings were ahead of last year. Investors were concerned about the impact of weak sterling and marked the stock 9.2% lower.

FTSE 250 RISERS AND FALLERS

British housebuilder Crest Nicholson (CRST) maintained its plan to increase the number of homes it builds by the end of the decade after posting a 27% rise in full-year pretax profit.

Soap maker PZ Cussons (PZC) failed to make a splash as half year sales and profits slid, triggering a 11% decline in the stock.

SMALL CAP RISERS AND FALLERS

Trademark attorney practice Murgitroyd (MUR) plummeted nearly 18.4% after several issues resulted in the company warning that its outcome for the full year will not meet market forecasts. It also said the firm was likely report reduced full-year 2017 earnings.

Contract delays and volatile currency moves sparked a profit warning at petrol stations software supplier Kalibrate Technologies (KLBT), which wiped off a fifth of its value.

Cancer treatment developer Advanced Oncotherapy (AVO) was informed by Sinophi Healthcare that it wished to terminate purchase orders from March and October 2015. Advanced Oncotherapy said it had no legal basis and plans to take appropriate action as its shares dropped 20%.

Iraqi Kurdistan oil producer Genel Energy (GENL) disappointed the market on expectations that its production will fall by more than a third this year. It announced it was unable to invest enough in expanding its oilfields due to ongoing conflict in the region.

iPhones products pusher Laird (LRD) confirmed underlying profit this year of £50m and that debts will not break banking covenants.

The market toasted ginger beer maker Fevertree (FVR) on expectations that it will 'materially' beat full year expectations due to stronger than expected trading.


Story provided by StockMarketWire.com