- Rio Tinto, BHP and Anglo American fell 4%, 3.7% and 3.1%, respectively after Brazil's Vale resumed iron ore production, alleviating supply pressures which have propped up prices in this market.

Given their weighting in the index, this put the FTSE 100 firmly on the back foot, down 1% to 7,480.84 by midday.

With Boris Johnson set to enter Number 10 sterling actually enjoyed gains. Details of the composition of Johnson's cabinet, which may offer some insight into his Brexit plans, are eagerly awaited.


Aston Martin tumbled 23% after it warned on earnings, blaming pressure on its wholesale business caused by economic uncertainty.

Television broadcaster ITV rallied 6.5% after a 5% fall in first-half advertising revenue nevertheless beat its expectations amid the popularity of hit show Love Island.

Standard Life Aberdeen added 0.5% after it agreed a final settlement with Lloyds related to a dispute over an unwanted termination of its asset management arrangements with the bank.

Standard Life Aberdeen would receive a £140m settlement payment from Lloyds and still get to manage about a third of the original assets.

Pub owner Marston's dropped 9.3% after it announced that weaker revenue in the past 16 weeks had limited like-for-like sales gains in its financial year to date to just 0.5%.

Drinks maker Britvic lost 0.3% as it reported a fall in third-quarter revenue amid a more challenged performance in France and Ireland.

Vodafone fell 0.3% after it released more details of a 5G network sharing plan in the UK with O2 Telefonica.

Property investor and developer Segro gained 1.9% despite it posting a 28% fall in first-half profit owing to property revaluations. The company also posted higher adjusted earnings, boosted by higher rental income, and hiked its interim dividend 14%.


North Sea oil firm RockRose Energy gained 134% as it emerged from suspension following its £70m reverse takeover of assets from US outfit Marathon Oil.

Wealth manager Rathbone Brothers shed 0.5%, as its first-half profit more than halved amid one-off costs associated with acquisitions and greater outflows from its funds.

Payments services group Paypoint gained 0.6% after it posted 3.6% growth in first-quarter revenue, driven by an increased site rollout.

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