FTSE dragged down by weak oil prices

The blue chip index nudged into negative territory as BP (BP.) slid 1.9% lower due to weaker oil prices.

Rising food prices and air fares pushed the Consumer Prices Index (CPI) 0.6% higher in the year to August 2016, which was unchanged from July and lower than expected.


Amec Foster Wheeler (AMFW) said Enterprise Products filed a lawsuit alleging that it is responsible for cost overruns and delays on Enterprise’s propane dehydrogenation unit in Mont Belvieu, pushing the share price 4% lower.

Online supermarket Ocado (OCDO) dropped 13.7% to 278p despite bagging higher retail sales in the 12 weeks to 7 August, as the company warned on margin pressure.

JD Sports Fashion (JD.) sprinted 5% higher to £13.99 after increasing revenue by a fifth and boosting its operating profit and pre-tax profit by over 60% in the 26 weeks to 30 July, which was delivered on strong like-for-like sales growth.

Esure (ESUR) confirmed plans to demerge insurance comparison website Gocompare.com. It said shareholders are set to receive free shares in Gocompare when it lists on London’s main market this year.


High technology tools provider Oxford Instruments (OXIG) was one of the biggest fallers on the London Stock Exchange after reporting that its industrial products division continued to face pressure from weakness in its end markets.

Tlou Energy (TLOU) gained 6% after completing dewatering and commencing gas testing at the Selemo production wells.

Investors itched to sell off shares at TyraTech (TYR) after the life science company issued a profit warning, which it blamed on inadequate levels of head lice in the US. TyraTech said the treatment market softened and made it difficult to forecast future sales. The shares dropped 33.3%.

A profit warning from network security company Corero (CNS) caused investors to jump ship, triggering a share price drop of 34% to 13.25p, as a result of ‘large opportunities taking longer to close than originally anticipated.’

Betting operator Sportech (SPO) said it will sell the Football Pools unit for £97.25 million in a deal which will include the business being re-listed on AIM.

Early-stage healthcare outfit Futura Medical (FUM) got a shot in the arm on interim results as chief executive James Barder was optimistic about clinical study results published last week on an erectile dysfunction treatment.

DiamondCorp (DCP) declined 17.8% after reporting less diamond sales in September following flooding issues, which resulted in nine less days of production last month.

Visual merchandising provider Attraqt (ATQT) rose 12.2% as it posted revenue growth, based on successful expansion in North America. Oxford Biomedica (OXB) dropped 8.6% after first half pre-tax loss widened to £11.9 million from £8.6 million and announced a fundraise of £11.5 million.

Payment technology provider SafeCharge International (SCH) failed to spark investor confidence despite its profit after tax rising from $12.4 million to $15.2 million year-on-year.

Video games technical service provider Keywords Studios (KWS) was in positive territory after revealing adjusted pre-tax profits of € 6 million in the first half of the year, some 177% higher.

Story provided by StockMarketWire.com