- The FTSE 100 remained in the doldrums in lunchtime trading, down 1.1% to 7,310.61 as risk aversion intensified on the escalating tensions between Korea and the US.

Commodities stocks were particularly hard hit with Anglo American (AAL) down 3.7% at £12.22 and Antofagasta (ANTO) down 3.7% at 904p.


US and Asian markets had closed firmly in the red overnight the S&P 500 down 1.45% and the Hang Seng index in Hong Kong down more than 2% on the rising geo-political tensions.


FTSE 100 investment and banking company Old Mutual (OML) pared earlier gains to trade down 2.5% to 196.4p as it reported a 37% increase in adjusted operating profit in the six months to 30 June. Pre-tax profits enjoy a 76% hike to £940m due in part to the sale of its asset management business.

The company raised its interim dividend by 32% to 5.53p in line with its capital management policy. Its adjusted operating profit earnings per share is up 33% to 10.6p on year on year basis.


Retailer Dixons Carphone (DC.) was the biggest mid cap faller, down 8.1% at 244.3p, amid a sea of red after analysts at Exane BNP Paribas downgraded the stock to underperform.


Engineered electronics company TT Electronics (TTG) shares traded down 1.8% to 211.9p despite it reporting strong numbers for its first half to 30 June. Operating profit is up 31% to 10.9m on a year on year basis and its earnings per share doubles to 4.6p in the same time period. The company has proposed the sale of its transportation division which CEO Richard Tyson hopes will make the company a 'higher margin, higher quality business'.

Highlands Natural Resources (HNR:AIM) shares gained 5.2% to 22.1p after it announces its starting drilling at its shale oil and gas project in Colorado.

On the AIM market, health and safety consultancy PHSC (PHSC:AIM) shares fell 5% to 11.9p. The company's final results for year ending 31 March, showed an underlying earnings before interest tax, depreciation and amortisation loss of £0.1m, compared to a profit of £0.4m for 2016. The company also report a loss per share of 4.92p compared with a 2016 loss per share of 3.23p.

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