- The FTSE 100 struggled to make any gains as concerns over the US-China trade war, political tensions in Germany over migration weighed on investor sentiment.

Around midday, the blue-chip index was trading 0.4% lower at 7,604.

Miners remained among the top fallers, led lower by Glencore (GLEN) and Randgold Resources (RRS). Glencore was down 1.3% to 376.1p and Randgold Resources declined 1.6% to £56.18.

Brent crude oil rose 0.8% to $74 per barrel.


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.

Manufacturing company Cobham (COB) saw its shares rise 4.4% to 129.8p following a bullish research note from investment bank Morgan Stanley where it upgraded its recommendation on the stock from 'equal weight' to 'overweight.'

Pest control specialist Rentokil (RTO) retreated 0.7% to 347.8p despite the Competition and Markets Authority saying its purchase of Cannon Hygiene may lead to competition concerns.

Addiction specialist Indivior (INDV) revealed a US Court granted a temporary restraining order which halted rival firm Dr Reddy from launching its generic version of Suboxone Film, an opioid addiction treatment. Shares in Indivior received a 3.2% boost to 372p.

Shares in British packaging business DS Smith (SMDS) dipped 0.9% to 558.6p despite a robust set of results which saw pre-tax profit increase 8% to £292m in the year to 30 April.

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. Shares in Rio Tinto nudged 0.2% higher to £42.28.

Australian-based mining and metals company South32 (S32) sealed a deal to acquire the remaining 83% stake of Arizona Mining for $1.3bn in cash.


Biopharma firm HVIVO (HVO) enjoyed a 27.4% jump to 25.1p 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 27.6% to 3p 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% higher to 13.5p.

Oil and gas producer President Gas (PPC) advanced 3.8% to 9.5p after bringing oil fields in Argentina back online after completing repairs.

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