- The FTSE 100 remained in negative territory as weakness among mining stocks continued.

Antofagasta (ANTO) fell 2.5% to £10.54 and Glencore (GLEN) lost 2.2% to 389.3p. BHP Billiton (BLT) and Rio Tinto (RIO) followed their peers lower.

Other noticeable fallers included consumer goods giant Unilever (ULVR) and utility firm Severn Trent.

The blue-⁠chip index traded 0.5% lower at 7,663 around midday.

Good weather and the Royal Wedding helped UK retail sales beat expectations of 0.5% in May, delivering a 1.3% rise according to the Office for National Statistics.

Brent crude oil slipped 0.4% to $76.41 per barrel.


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

Asian equities followed the US lower overnight.


Miner Anglo American (AAL) fell 2.3% to £17.54 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 13% to £28.76.

PZ Cussons (PZC) fell 5.7% to 219.6p 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 1.1% boost in the stock to £15.61.

Primary Health Properties (PHP) was flat at 113.8p despite its subsidiary acquiring Moredon Medical Centre in Moredon, Swindon.


Shares in Vernalis (VER) jumped 9.3% to 6.2p following several takeover approaches after putting itself up for sale. The pharma firm also terminated its agreement with Tris Pharma.

Shares in Magnolia Petroleum (MAGP) catapulted 149.4% to 1.06p after signing a non-binding deal with a third party for the sale of all 31 wells in which it has varying interests in North Dakota for $1.5m. (GOCO) acquired energy comparison and switching specialist Energylinx for £10m in cash, helping shares in the former rise 4% to 134p.

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 advanced 0.1% to 450.5p.

OnTheMarket (OTMP) revealed 63% growth in listing deals with UK estate and letting agents since its IPO in February. The stock gained 1.2% to 179.7p.

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