StockMarketWire.com - The FTSE 100 failed to gain positive momentum as a disappointing performance in the US and Asia overnight and concerns over the G7 meeting in Quebec weighed on investor sentiment.

The market is likely to be worried about a potential escalation in the US trade war.

The mining sector was among the sectors worst hit. Antofagasta (ANTO) declined 3.2% to £10.98 and Glencore (GLEN) lost 2% to 386p.

The FTSE 100 traded 0.6% lower at 7,653 around midday.

Brent crude oil was down 0.8% at $76.67 per barrel.

MID AND LARGE CAP RISERS AND FALLERS

Asset manager Standard Life Aberdeen (SLA) fell 3.9% after Lloyds (LLOY) sold its 3.3% stake in the company for £344m. The two companies clashed earlier this year when Lloyds said it no longer wanted Standard Life Aberdeen to manage a £109bn portfolio on behalf of its Scottish Widows life insurance business.

Telecoms company BT (BT.A) was broadly unmoved at 204.4p after deciding to replace chief executive Gavin Patterson.

Chemicals firm Synthomer (SYNT) is under investigation by the European Commission which is looking into companies that have been purchasing styrene monomer in the European Economic Area. Its shares slipped 1.6% to 532p.

State-backed miner China Nonferrous Metal is to invest $70m into Kaz Minerals' (KAZ) Koksay project in Kazakhstan. The news was overshadowed by negative sentiment towards the mining sector with Kaz Minerals falling 7.2% to 998.8p.

Fantasy miniatures maker Games Workshop (GAW) lost 6.6% to £28.47 as profit-takers swooped despite continued sales and profit growth.

SMALL CAP RISERS AND FALLERS

Pub chain Fuller, Smith & Turner (FSTA) revealed beer and cider volumes were flat in the year to 31 March due to a challenging marketplace. Sales growth has also slowed down since the start of its new financial year, causing the shares to dip 1% to 960.6p.

Magazine publisher Time Out (TMO) said it was confident on meeting its strategic and financial goals in 2018, helping the stock gain 2.5% to 82p.

Blavod Black Vodka owner Distil (DIS) showed the benefits of investing in its brands with operating profit and sales up significantly in the year to 31 March, sparking an 16.7% rally in the stock to 2.5p.

Embattled mobile virtual network operator The People's Operator (TPOP) warned it may need emergency funding if loan provider Barclays demanded the full proceeds from the sale of US subscribers to US network operator Ting. Its shares slumped 28.6% to 0.01p.


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