Utility stocks fell after Prime Minister Theresa May hinted she would increase regulations against the sector to prevent further price rises, causing the FTSE to drop 0.3% to 7,013.
Centrica (CAN) and SSE (SSE) declined by up to 2.9%.
West Texas Intermediate (WTI) crude oil advanced by 1.1% to $50.37 and Brent crude oil rose 1.2% to $52.49 per barrel, respectively.
MAIN NEWS OF THE DAY
Budget airline EasyJet (EZJ) fell 6.5% to 939.8p on a trading update which revealed margins were squeezed. Increased capacity and passenger numbers were offset by declining revenue and increasing costs per seat, meaning profit for the year to September 2016 is likely to be down from £686m last year to between £490m to £495m.
British Airways owner International Consolidated Group (IAG) fell 2.3% on the back of the bad news.
MID CAP RISERS AND FALLERS
Curtains purveyor Dunelm (DNLM) dipped 4.1% to 822p on a first quarter update showing a 3.8% decline in like-for-like sales, which it blamed on unusually warm weather.
DFS Furniture (DFS) nudged lower despite full year results revealing record sales, profits and cash flow as well as an 18.3% hike in the total dividend. The company said it plans a further special capital return later in the new financial year.
Specialist healthcare company BTG (BTG) bloomed 5.1% to 679.7p on news full year revenue is likely to reach beyond previous guidance of £540m due to the lower pound.
SMALL CAP RISERS AND FALLERS
Nu-Oil (NUOG) raised £700,000 before expenses, will be used for the implementation of its stranded and marginal field strategy, to facilitate the acquisition of projects and for general working capital. Noricum Gold's (NMG) share price reacted to a proposed '1 for 100' consolidation of its shares.
Server replication specialist WANdisco (WAND) plummeted 21% to 176.9p as investors were unnerved by management changes. Chairman Paul Walker and non-executive director Ian Duncan resigned following David Richards' re-instatement as CEO.
Oil and gas explorer President Energy (PPC) crashed 33.8% to 7.66p after announcing it was forced to temporarily suspend drilling at well DP1002 S/T in Argentina.
Tengri (TEN) announced that Peterhouse Corporate Finance raised £100,000 through a shares placing, which will be used for ongoing administrative expenses and to seek a reverse takeover transaction.