The FTSE 100 slid 0.2% to 7,053 as the pound strengthened by over 1% against the euro and dollar, while midcaps fell 0.1% to 18,047.
West Texas Intermediate (WTI) crude oil was flat at $50.80 and Brent crude oil nudged 0.2% higher to $52.50 per barrel, respectively.
Gold nudged lower to $1,251 per ounce and copper was stable at $4,806 per tonne.
MAIN NEWS OF THE DAY
Mining giant Fresnillo (FRES) remained on track to deliver its full-year production guidance, after reporting quarterly results in line with expectations. It traded 1.3% lower after the firm said the second phase of commissioning of the San Julian mine was pushed back.
MID CAP RISERS AND FALLERS
Pizza delivery chain Domino's Pizza (DOM) failed to impress the market after reporting sales growth in the third quarter of 2016, driven by new stores, and remained upbeat on meeting full year market expectations.
Construction firm Kier (KIE) sold its Mouchel Consulting business to WSP Global for £75m, which will be used for future investment and to cut debt.
SMALL CAP RISERS AND FALLERS
Shares in Premier Foods (PFD) tumbled 13.5% to 45.17p after warning that first-half profit was likely to be below the previous year and posted a drop in second quarter sales due to warmer weather.
Mining minnow Strategic Minerals (SML) continued to soar 18.5% to 0.96p despite management confirming there was no new news to report a few days ago. The stock rallied 160% in six trading days.
There was positive news from the UK house building sector as Telford Homes (TEF) said it will not change its growth targets due to the Brexit vote and added sales were robust in recent weeks.
Strong trading and an improvement in cash collection at digital TV solutions supplier Mirada (MIRA) caused the shares to gain 12.6% to 3.8p.
Oil and gas production company Petroneft Resources (PTR) jumped 16.8% to 3.39p as gross barrels of oil per day rose from 2,460 in the second quarter of 2016 to 3,317 in the third quarter.
Diamondcorp (DCP) cheapened 28.7% to 2.94p on reports of drilling problems at its Lace diamond mine in South Africa, leading the firm to ask investors for a further cash injection of between £2.5m and £3m.
Biotech Synairgen (SNG) crashed 34.3% to 22.33p on reports that its partner AstraZeneca (AZN) called time on INEXAS asthma treatment after the latest clinical trials data.
Car dealer Vertu Motors (VTU) was flat on half year growth in pre-tax profit and revenue, which was boosted by recent acquisitions and an improvement in used car sales.