- It was a tough start to the week for UK equities amid friction in Germany over immigration issues, resulting in interior minister Horst Seehofer offering his resignation.

Canada's tariffs on US goods reignited trade war fears and oil prices fell, all contributing to a 0.9% decline in the FTSE 100 to 7,567 around midday.

Oil producer Royal Dutch Shell (RDSB) fell 0.5% to £26.99. Miners were among the other casualties with Antofagasta (ANTO) losing 2.5% to 964.8p and Anglo American (AAL) declining 2.1% to £16.59.

Brent crude oil dipped 0.7% to $78.68 per barrel. Copper cheapened 0.5% to $2.94 per tonne and gold was down 0.3% at $1,247 per ounce.


UK supermarket Tesco (TSCO) revealed an alliance with Carrefour in France, which is expected to help the retailers cut costs and lower prices in a competitive market. Shares in Tesco were flat at 256.6p.

Mining conglomerate Vedanta Resources (VED) catapulted 26.7% to 819.7p after Volcan Investments said it wanted to buy the rest of the company it did not already own, valuing Vedanta at £2.3bn.

Defence engineer Meggitt (MGGT) upgraded its 2018 organic sales growth guidance from between 2% to 4% to a new range of between 4% and 6%, helping the shares jump 2.7% to 506.6p.

Elsewhere, Micro Focus (MCRO) advanced 4.7% to £13.85 on a deal to sell its SUSE business for $2.53bn in a bid to focus on infrastructure software assets and help cut debt.

Investment manager Ashmore (ASHM) struggled on the news that chairman Peter Gibbs will retire as chairman, prompting the shares to stumble 4.4% to 356.4p.

Gambling firm Playtech (PTEC) tumbled 29.8% to 528.6p on its second profit warning in a year, blaming ongoing problems in Asia.

Plus500 (PLUS) impressed the market after upgrading full year expectations for the year to 31 December as the stock jumped 2.2% to £16.50.


There was also a sales miss at mattress seller Eve Sleep (EVE) as squeezed consumer spending and missteps by management hit trading, resulting in chief executive Jas Bagniewski's resignation. This prompted the shares to plummet 56.7% to 29.9p.

A heavy storm hit Mosman Oil and Gas's (MSMN) Arkoma project in Oklahoma, prompting delays. Shares in the oil explorer slipped 7.4% to 0.4p.

88 Energy (88E) shed 20% to 1.02p on its decision to suspend its Icewine joint venture.

Celebration cake retailer Cake Box (CBOX) enjoyed a 12.2% hike to 154.3p following positive press over the weekend after a strong debut on AIM last week.

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