StockMarketWire.com - The FTSE 100 dipped 0.6% to 7,372 at around 9am amid share price weakness at oil majors Royal Dutch Shell and BP.

BP fell 1.3% to 552.8p and Shell slipped 1.2% to £24.28.

Brent crude oil was down 0.4% at $69 per barrel.

MID AND LARGE CAP RISERS AND FALLERS

Over-50s insurer Saga plummeted 35.1% after cutting its dividend and announcing a strategy change. The company also revealed underlying pre-tax profit for the 2019/20 financial year is forecast to be between £105m and £120m.

Shares in electronic products specialist Electrocomponents rose 2.3% after announcing it expected to deliver strong pre-tax profit growth thanks to a good performance in the fourth quarter.

Entertainment One said continued growth in its family and brand segment boosted its annual performance as it continues to transition from distributing to producing content. Shares in the firm rose 3.6%.

Shopping centre owner Intu appointed Matthew Roberts as chief executive, but this failed to excite the market as the shares dipped 1.9% to 104p.

Construction and development firm Watkin Jones was flat at 220.9p after delivering in line trading in the six months to 31 March 2019.

SMALL CAP RISERS AND FALLERS

Mothercare was broadly unmoved at 22.3p after revealing UK like-for-like sales declined 8.8% in the quarter to 30 March, although this was an improvement on the previous two quarters.


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