FTSE falls further after miners hit by commodity prices
Source - SMW
The FTSE 100 declined further as weaker metal prices pushed miners lower with Fresnillo (FRES), Antofagasta (ANTO) and Anglo American (AAL) are in a falling pattern.
The FTSE 100 closed 0.2% lower at 6,825.
West Texas Intermediate (WTI) crude oil fell 1.2% to $46.41 and Brent crude oil slipped 1.7% to $48.43 per barrel, respectively.
Gold was 0.4% lower at $1,317 per ounce and copper declined 0.4% to $4,563 per tonne.
MAIN NEWS OF THE DAY
Distribution group Bunzl (BNZL) reported a 13% increase in adjusted operating profit to £235.1 million in the first half of the year and hiked its dividend by more than 10% to 13p.
A profit warning from economic bellwether Braemar Shipping Services (BMS) caused the firm to trade 8.9% lower. It said results for the year to February 2017 would be 'materially lower' than the previous year due to a slowdown in the tanker market while dry bulk remains weak.
MID CAP RISERS AND FALLERS
Vectura (VEC) received a disappointing update from its partner Mundipharma that its Phase III trial of flutiform didn't meet the primary endpoint of showing significant superiority to reduce rates of moderate and severe COPD exacerbations, compared to mono-component LABA treatment.
SMALL CAP RISERS AND FALLERS
NMC Health (NMC) said it is expanding into Saudi Arabia through an initiative which will see it more than double capacity in the long-term and home care market and potentially add $10 million to earnings.
Underwriting services provider Charles Taylor (CTR) boosted its revenue and adjusted pre-tax profit due to a strong performance in the core professional services businesses.
Galileo Resources (GLR) rose 17.1% to 1.2p after selling the Gabbs Gold-Copper property in Nevada for $2.5 million in cash.
Engineer Pressure Technologies (PRES) said it would swing from a profit to a loss due to additional legacy costs, margin erosion and R&D spending, triggering a 8.6% share price decline.
Science in Sport (SIS) sprinted 6% higher to 70.5p following its appointment as the official sports nutrition partner to Liverpool Football Club for the 2016/17 season.
Gulf Marine Services (GMS) signed a letter of intent for the charter of a large class vessel to support maintenance work in the oil and gas sector in Europe, boosting its share price by 11%.
BATM Advanced Communications (BVC) reported a higher operating loss and less revenue as a result of less revenue in the pathogenic waste treatment and sterilisation units.