- Oil prices dropped 4% to $57.23 per barrel over supply glut concerns and potentially lower demand, putting oil majors Royal Dutch Shell and BP under pressure.

As these two are among the biggest on the blue-chip index in terms of market cap, the FTSE 100 slipped 1% to 6,701.

Separately Shell was linked with an $8bn bid for US private oil firm Endeavor Energy.

Copper also cheapened 2.8% to $2.68 per pound.

Power utility National Grid fell 9.2% to 758.7p after announcing that it was disappointed with consultation documents published by the UK regulator, claiming it made it harder to provide fair returns to shareholders.

Utility stocks followed National Grid lower with Severn Trent and British Gas owner Centrica dimming by at least 1.9% each.

Wall Street enjoyed robust gains ahead of an anticipated hike in US interest rates on Wednesday.


Shares in opioid addiction specialist Indivior rallied 17.7% to 111.7p thanks to a potential delay in the launch of a competitor's generic drug and reiteration of annual guidance - if the rival drug isn't launched in 2018.

Oil services company Petrofac climbed 3.2% to 460p after it said it was trading in line with expectations, having won $5bn worth of orders in the year to date.

Fellow service company Wood Group, however, fell 3.6% to 517p, despite announcing that it had won a $66m contract to supply technologies to the UK's Sellafield nuclear site.


Fishing tackle and equipment retailer Angling Direct rose 1.8% to 80.5p on announcing that it remained confident of meeting full year expectations as international sales nearly doubled.

Digital imaging and sensing company Scientific Digital Imaging gained 4% to 35.9p as it booked a 42% rise in first-half profit, buoyed by organic revenue growth and new contributions from acquisitions.

Inspiration Healthcare dipped 2.2% to 66p on the back of news that it had signed an exclusive agreement with 'a major US university' for rights to develop a new respiratory device.

Agriculture and engineering group Carr's gained 5.2% to 151.5p as it announced that chairman Chris Holmes would stand down in January 2020.

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