- The FTSE 100 was dragged into the red by weakness in the mining sector and concern over the latest US rate hike, trading 0.5% lower at 7,664 around 9am.

Antofagasta (ANTO) fell 2% to £10.60 and Glencore (GLEN) lost 2% to 390p. BHP Billiton (BLT) and Rio Tinto (RIO) followed its peers lower.

Brent crude oil dipped 0.2% to $76.57 per barrel.


Wall Street reacted negatively to the latest interest rate hike on Wednesday, causing all indices to decline. The biggest hit was the Dow Jones, which fell 0.5% to 25,201.

Asian equities followed the US lower overnight.


Miner Anglo American (AAL) fell 1.3% to £17.74 despite Mitsubishi's commitment to increase its stake in Anglo American Quellaveco to 40% following a $600m investment. Anglo American Quellaveco owns the Quellaveco copper project in Peru.

IT systems provider Aveva (AVV) reported adjusted profit before tax grew 6.8% to £162.8m in the year to 31 March. The strong performance was driven by the heritage AVEVA business and a robust performance from the heritage Schneider Electric industrial software business, helping the shares rally 10.7% to £28.04.

PZ Cussons (PZC) fell 6.4% to 218.6p after warning macro conditions will remain challenging with upcoming general elections in Nigeria and Indonesia. The company said anticipated full year pre-tax profit will be in the range previously indicated, but at the bottom end of the range.

Drug developer GlaxoSmithKline (GSK) revealed its two-drug treatment for HIV met its primary goal after demonstrating the ability to control HIV, providing a 1% boost in the stock to £15.61.

Primary Health Properties (PHP) was flat at 113.6p despite its subsidiary acquiring Moredon Medical Centre in Moredon, Swindon.


Shares in Vernalis (VER) soared 16.4% to 6.6p following several takeover approaches after putting itself up for sale. The pharma firm also terminated its agreement with Tris Pharma.

Majestic Wine (WINE) reported a £8.3m pre-tax profit, up from a £1.5m loss in 2017 thanks to 11.3% underlying sales growth in Naked Wines. Shares in the company retreated 1.4% to 443.5p.

OnTheMarket (OTMP) revealed 63% growth in listing deals with UK estate and letting agents since its IPO in February. Its shares nudged 0.5% to 178.5p.

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