- The FTSE marched lower on Tuesday as falls among banks weighed on proceedings. Lower prices of crude oil and some metals dragged blue chips in those sectors down with them.

At the close, the FTSE 100 was down 21.12 points, or 0.28%, to 7526.51, and the FTSE 250 was down 33.07, or 0.17%, to 19,991.8. Crude prices were firmly down, with gold and copper also ebbing as silver rose.

At the top end of the blue-chip losers list were Mediclinic (MDC), down 3.25% to 789.5p, Shire (SHP), down 3.16% to 4504.5p, and Informa (INF), down 2.76% to 669.5p.

Several financials were out of favour. Among those down were both insurers and banks, although by no means all. Old Mutual (OML) dropped 2.7% to 191.3p, while Barclays (BARC) retreated 1.17% to 209.18p. Also falling were Lloyds (LLOY), Standard Chartered (STAN) and RBS (RBS).

Also down were tobacco majors, and airlines. International Consolidated Airlines (IAG) taxied down 1.38% to 605.5p after disruptions to its British Airways' services at the weekend.

A number of supermarkets and consumer goods were lower, too. The Competition and Markets Authority has opened a probe into Tesco's (TSCO) proposed acquisition of wholesaler Booker. Tesco fell 0.78% to 185.35p.

BP (BP), down 0.52% to 472.1p, and Shell (RDSA), down 0.14% to 2115p, were down with the price of oil. In the mining sphere, Rio Tinto (RIO) dropped 0.22% to 3183p, followed by BHP Billiton (BLT) and Glencore).

Among blue chips prominently higher were 3i Group (III), up 2.3% to 888.5p, TUI AG (TUI), up 1.97% to 1192p, and Glaxosmithkline (GSK), up 1.79% to 1673p.

Anglo American (AAL), up 0.33% to 1056p, has completed the sale of its 83.33% interest in the Dartbrook coal mine in the Hunter Valley, Australia, to Australian Pacific Coal Ltd.

Intu (INTU), up 0.19% to 270.2p, and TH Real Estate have agreed to form a joint venture to own Madrid Xanadu shopping centre in Spain.


Fusionex International (FXI) fell 63.18% to 47.5p as it accepted Peel Hunt LLP's resignation as joint broker, and non-executive chairman John Croft gave notice to resign.

Keras Resources (KRS) rose 20% to 0.45p after it confirmed shareholders of Pharmanet Group have approved all resolutions, in respect of the acquisition of Keras (Gold) Australia, at today's shareholder meeting.

Xtract Resources (XTR) fell 14.29% to 0.02p as it issued proposals for its shareholder meeting that would consolidate its share capital and allow an equity raise. Xtract also posted a wider loss for the year.


EU Supply (EUSP), up 14.55% to 15.75p, said revenues in the first four months of this year have grown at more than 25% compared with the corresponding period in 2016.

Coal of Africa (CZA) rose 8.33% to 3.25p as it said the suspension of the Integrated Water Use Licence for the Makhado Project had been lifted by the South African Minister of the Department of Water and Sanitation.

Gulfsands (GPX) fell 7.5% to 4.63p as it posted a narrower pretax loss for the FY of $19.8m, from $69.2m. It remained focused on controlling costs going forward and would look to reduce these further over the coming year.

Savannah Resources (SAV), up 8% to 6.75p, has announced completion of the Mutamba Scoping Study, which concluded there was potential for a financially robust, long-life mineral sands project that was anticipated to provide excellent life of mine financial returns with relatively modest capital requirements.

Starcom (STAR), down 5.56% to 2.13p, said its FY 2017 results were still expected to show an improvement over 2016 due to the encouraging sales pipeline and new initiatives it was pursuing.

Trakm8 (TRAK), up 4.44% to 117.5p, has been awarded an initial telematics contract by Mecalac Construction Equipment UK Ltd (previously Terex GB), the global equipment solutions provider.

SDX Energy (SDX), up 3.08% to 58.5p, has confirmed the overall success of its SD-1X well campaign, following the recent natural gas discovery at South Disouq, Egypt where the Company has a 55% operated working interest.

Other stocks in the news included Science in Sport (SIS), Xtract Resources (XTR), The Stanley Gibbons Group (SGI), Sula Iron & Gold (SULA), Stride Gaming (STR), Fastjet (FJET), Volution (FAN), Alexander Mining (AXM), AFI Development (AFRB), Crimson Tide (TIDE), Silence Therapeutics (SLN), GAN (GAN), Magnolia Petroleum (MAGP), Helios Underwriting (HUW), Applegreen (APGN) and CLS Holdings (CLI).