StockMarketWire.com - Falling metal prices weighed on the mining sector and kept the FTSE 100 in negative territory.

Copper cheapened 1.2% to $2.95 per pound and gold retreated 0.4% to $1,248 per ounce.

Antofagasta was the biggest faller in the sector, down 2.6% at 981p. Glencore (GLEN) shed 2.8% to 358.8p and Evraz (EVR) lost 1.3% to 507p.

The blue-chip index closed six points lower at 7,615.

OVERSEAS MARKETS

Wall Street was resilient despite growth in the US economy being revised downwards for the first quarter.

Th S&P 500 rose 0.3% to 2,709 around 5pm UK time.

Walgreens Boots Alliance tumbled 9.3% to $60.10 following Amazon's decision to buy online pharmacy Pillpack.

MID AND LARGE CAP RISERS AND FALLERS

Budget airline EasyJet (EZJ) was 1.1% lower at £16.70 on news that British Airways owner International Consolidated Airlines (IAG) is launching a low-cost subsidiary LEVEL in July.

Stagecoach (SGC) cut its dividend by 35.2% for the year to 28 April to 7.7p amid concerns that cash flow would be unable to cover the payout. The transport operator also revealed a £85.6m loss from the early termination of the East Coast rail franchise. The shares rose 4.3% to 139.9p after an initial drop.

Oil major BP (BP.) bought electric vehicle charging firm Chargemaster in a bid to take advantage of a market that is expected to flourish in the future. Shares in BP were broadly unmoved at 582.5p.

Pub operator Greene King (GNK) lost 9% to 581p after operating profits declined to £373.1m in the year to 29 April due to lower consumer spending and adverse weather.

Rare diseases specialist Shire (SHP) benefitted from a 3.1% boost to £42.21 following a failed attempt by shareholders at Takeda to block the $62bn acquisition of the company.

Shares in oilfield services provider John Wood (WG.) retreated 2.7% to 645.2p despite sales growing in its first half thanks to higher oil prices lifting demand for equipment and services.

SMALL CAP RISERS AND FALLERS

Social games developer Gaming Realms (GMR) entered a conditional deal to sell its 70% stake in most of its UK online casino business to River UK Casino for up to £23.1m. After an initial rally, the shares fell 4.7% to 10p.

Pharmaceutical services company Ergomed (ERGO) collapsed 25.7% to 176p after warning sales will be 5% lower than market consensus in 2018 due to delays in the start-up of some contracts.


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