The FTSE 100 slips slightly lower to 7,173.63 with tumbling oil prices dragging down both Royal Dutch Shell (RDSB) and BP (BP.).
This follows the publication overnight of figures from the American Petroleum Institute which showed a 14.2m barrel build in its crude oil stocks last week against an expected increase of just 2.5m.
Miner Rio Tinto (RIO) is up 2.9% to £35.35 as it reveals a return to profitability in 2016 - posting net earnings of $4.6bn against a 2015 loss of $866m - and unveils a better than expected dividend alongside a $500m buyback programme.
Recently admitted to the FTSE 100 index, packaging firm Smurfit Kappa (SKG) gains 2% to £21.86 as it reported 2016 earnings growth despite higher input costs and a currency headwind and hiked its dividend by 20%.
Non-life insurer RSA (RSA) gains 2.5% to 601p as it agrees a deal to dispose of £834m worth of legacy insurance liabilities in the UK to Enstar Group.
Stockbroker Hargreaves Lansdown (HL.) falls 1.7% to £13.62 as net new business flows were down 7% in the six months to 31 December (if you exclude the Jupiter and JPMorgan client acquisitions in the prior year). This overshadowed a 21% advance in pre-tax profit and 10% rise in the dividend as share trading picked up post the Brexit vote.
Oil explorer Tullow Oil (TLW) falls 1.6% to 290.6, taking its cue from lower oil prices and the 19% increase in borrowings revealed in 2016 results. The company says that the majority of its cash flow in 2017 would be put towards reducing its $4.8bn debt pile.
Homewares retailer Dunelm (DNLM) falls 6.5% to 640p as it reveals 'softer than expected' trading due to a weaker market and supply chain disruption in the six months to 31 December. Overall, pre-tax profit is down 26% and free cash flow is down 75.3% in its first half.
Energy services business Flowgroup (FLOW:AIM) falls 14.3% to 5.25p as it reports plans to sell its Flow Energy business to help fund the launch of its microCHP technology in Europe.
Spend management platform Blur Group (BLUR:AIM) gains 11.9% to 8.25p as it says 2016 earnings will be ahead of expectations.
