- Weakness in the mining sector offset rising banking and utility stocks, pushing the FTSE 100 6.4 points lower at 7,627 around 9am.

Miner Evraz (EVR) was down 2.4% at 516.6p and Fresnillo (FRES) declined 0.6% to £11.60.

Among the risers were Royal Bank of Scotland (RBS) which advanced 0.8% at 256.5p; and Barclays (BARC), which rose 1.2% to 196.9p.

United Utilities (UU.) and British Gas owner Centrica (CNA) were also among the top blue-chip performers.


Addiction specialist Indivior (INDV) revealed a US Court granted a temporary restraining order which halts rival firm Dr Reddy from launching its generic version of Suboxone Film, an opioid addiction treatment. Shares in Indivior received a 6% boost to 382.3p.

Shares in British packaging business DS Smith (SMDS) dipped 1.7% to 553.8p despite a robust set of results which saw pre-tax profit increase 8% to £292m in the year to 30 April.

Clydesdale Bank owner CYBG (CYBG) agreed a £1.7bn deal to buy Virgin Money (VM.). Under the deal, Virgin Money shareholders would receive 1.21 new CYBG shares in exchange for each Virgin Money share.

Miner Rio Tinto (RIO) revealed a strategy to optimise its Pilbara assets would deliver value for shareholders, but this news was overshadowed by weakness across the mining sector. Its shares were broadly unmoved at £42.13.


Biopharma firm HVIVO (HVO) enjoyed a 25.9% jump to 24.8p on positive results from its Phase IIb field study of FLU-v, representing a significant advance in the management of influenza disease.

Mercantile Ports and Logistics (MPL) rallied 31.3% to 3.08p after its subsidiary Karanja Port and Logistics' (KPL) Karanja Terminal was expected to be appointed as a customs port.

Online retailer Koovs (KOOV) sealed a conditional deal for a two-year, £24m media agreement with strategic partner HT Media, one of India's largest media companies, pushing the stock 19.8% higher to 13.6p.

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