Latest market news


FTSE falls more than 0.7% as oil stocks move into reverse

A reversal in the oil sector saw the FTSE 100 come under increasing pressure through the course of Wednesday.

By the close the index of leading UK shares was down 0.4%. US markets were broadly flat after hitting record highs yesterday.

Positive broker comment saw UK property investor Land Securities top the FTSE 100, up nearly 3%.

LARGE AND MID CAP RISERS AND FALLERS

Anglo American and BP led the mining and energy sectors lower, with falls of 3.8% and 2.1%, respectively. Anglo American was downgraded by JP Morgan.

Copper play Antofagasta shed a slightly more respectable 1.9%, as it boosted its output by 23% in the first quarter.

Associated British Foods gained 2.1% after another knockout profit performance by budget fashion retailer Primark offset weakness in the conglomerate's sugar and bakery units.

Online clothing retailer Bohoo firmed 8.6% after it reported a 49% jump in annual profit that beat market expectations.

Financial services group Aviva shed 0.6% on announcing that Andy Briggs had stood down as the head of its UK insurance unit.

Gold miner Centamin advanced 11.9% after it maintained its full-year output guidance, despite sales slipping in the first quarter.

Sub-prime lender Amigo Loans dipped 0.2% after revealing chief executive Glen Crawford is to step down to undertake medical treatment.

SMALL CAP RISERS AND FALLERS

Car testing firm AB Dynamics motored 7.3% higher as it reported a 95% increase in first half pre-tax profit.

IT services and cloud hosting provider SysGroup rose 3% after it guided for healthy rises in both annual revenue and operating earnings.

Shield Therapeutics added 4.2% as Swiss regulators extended the approved indication for its iron deficiency treatment, to now include treatment of all adults with iron deficiency with or without anaemia.