- It was a bad start to the week for the FTSE 100 as trade war tensions reignited over the weekend and oil prices declined on the back of OPEC's decision to increase production on Friday.

The FTSE 100 was trading 1.2% lower at 7,587 around midday.

Brent crude oil slid 1.8% to $74.17 per barrel.

Miners were among the casualties with Anglo American (AAL) and Glencore (GLEN) shedding at least 2.6% apiece.

BHP Billiton (BLT) and Fresnillo (FRES) followed their peers lower.

Among the noticeable fallers was BP (BP.), down 2% at 565.2p.


Old Mutual's (OML) UK wealth business Quilter (QLT) officially listed as a separate company in London and South Africa, sparking a 7.5% rally to 156p.

Turnaround specialist Melrose (MRO) revealed its acquisition of engineer group GKN was cleared by the Committee on Foreign Investment in the US. Shares in Melrose were down 1.4% at 218.8p.


A profit warning from estate agent Countrywide (CWD) triggered a 24% sell-off to 59.6p. The company warned first half earnings will fall £20m year-on-year.

Shares in Red Emperor Resources (RMP) soared 111.4% to 1.9p on the news it will acquire and drill a significantly large oil prospect on the Alaska North Slope.

Investors were impressed by Greatland Gold's (GGP) laboratory assay data from its first drill hole at its 100% owned Havieron licence in Western Australia as the shares jumped 30.3% to 1.4p.

Oil company Soco International (SIA) was flat at 94.7p after agreeing to sell its Congo unit to Coast Energy Congo for up to $10m and for a royalty on future oil and condensate production.

Housebuilder Inland Homes (INL) was up 2% at 69.4p on the completed sale of phase two of its Sherborne Wharf project in Birmingham to Crest Nicholson (CRST) for £4.3m.

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