StockMarketWire.com - A warning on the global economy from the Organisation for Economic Co-operation and Development (OECD) pushed the FTSE 100 lower, while food data wasn't upbeat.

The FTSE 100 slumped 0.73% to 6,185.14 and the FTSE 250 slid 0.63% to 17,077.13.

West Texas Intermediate (WTI) crude oil fell 1.22% to $48.5 and Brent crude oil declined 1.24% to $49.27 per barrel, respectively.

Gold glittered at $1,215.8 per ounce, while copper was $4,629.78 per tonne.

MAIN NEWS OF THE DAY

Heating products distributor Wolseley (WOS) said like-for-like revenue in the UK was lower than last year and increased its net debt in the third quarter of 2016 to £1,131m, triggering a drop of 6.9% to 3,770p.

Overall shop prices declined 1.8% in May year over year, while food prices fell into deflationary territory, according to the British Retail Consortium (BRC).

The latest Kantar Worldpanel grocery share data showed the big four supermarkets failed to make gains against budget grocers such as Aldi and Lidl.

The UK's manufacturing purchasing managers index (PMI) for May was 50.1, up from 49.4 in April, which was higher than expectations as the manufacturing sector was expected to contract further.

Nationwide's index revealed that UK house price growth slowed in May, as the rush to avoid higher stamp duty continued to affect the housing market.

The Eurozone's final manufacturing PMI index for May was at a three-month low of 51.5, down from 51.7 in April, but still in line with forecasts.

MID CHIP RISERS AND FALLERS

Cycling specialist Halfords (HFD) retreated 4.9% to 417.10p after its pre-tax profit after non-recurring items fell to £79.8 million in the year to 1 April.

British property firm LondonMetric Property (LMP) said its reported profit nearly declined by 50% as a result of lower valuation gains and a £16.8m million adverse movement in derivatives, pushing shares 2.7% lower to 160p.

Events organiser UBM (UBM) acquired Content Marketing Institute for $17.6 million, with shares up 0.4% to 591.5p.

SMALL CAP RISERS AND FALLERS

Engineering services firm Lamprell (LAM) signed a joint development agreement with three big companies to collaborate on a maritime yard in eastern Saudi Arabia, pushing shares up 4.7% to 79.31p.

Blood monitor maker Deltex Medical (DEMG) excited investors with its clinical trial results, which showed the company's machine reduced post-surgery complications by 72%. Shares were up 0.9% to 4.33p.

Customised electronics supplier Acal (ACL) said its organic sales growth was 3% higher in the full year to 31 March, although this was partly achieved through two large one-off orders. Investors were unimpressed, triggering a fall of 2% to 259.53p.

UK internet hosting service Daily Internet (DAIP) traded in line with management expectations and boosted its profit and revenues, with shares advancing 0.3% to 1.65p.

Singapore-based Feng Shui product provider New Trend Lifestyle Group (NTLG) plummeted 13.5% to 2.25p after sales in Singapore fell by 10%, resulting in a higher pre-tax loss of SGD635,000.

UK lettings estate agency Hunters Property (HUNT) said it exceeded expectations by performing well across all divisions, including the opening of ten new branches in the first four months of 2016, causing shares to rise 7.3% to 77.25p.

Building services provider Northern Bear (NTBR) announced strong first quarter results by targeting higher margin work and plans to increase the proposed final dividend, boosting shares by 11.9% to 47p.

Nostra Terra Oil and Gas company (NTOG) said it is continuing to seek debt financing using a secured bond to complete the 60% acquisition of the Permian Basin of New Mexico from Alamo Resources, causing shares to rise 1.7% to 1.5p.

Analytics software specialist Fusionex International's (FXI) pre-tax profit plummeted more than 75% to RM2,513,506 million, triggering a drop of 8.3% to 155p.

Motor retailer Vertu Motors (VTU) acquired Gordon Lamb for £18.7 million, although this failed to impress investors as it dropped 2.6% to 56.75p.

Logistic support solutions firm Pennant International (PEN) shot up 37% to 47p after it signed a major new contract and was awarded another, with an aggregate value of £13 million.

European oil and gas exploration company Ascent Resources (AST) raised £500,000 through the placing of more than 83 million shares using the Primarybid platform, the shares falling 30% to 0.58p.

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