skip to content

Market Wrap - Close

FTSE falls on depressed oil stocks, banks and miners

20 June 2017 16:42

A 2.6% drop in Brent crude oil prices to $45.70 per barrel dragged on the FTSE 100 as it hit oil giants BP (BP.) and Royal Dutch Shell (RDSB).

BP declined 2.6% to 460.2p and Shell slipped 2.3% to £21.25.

Weaker metal prices further weighed on the blue-chip index as miners were among the biggest casualties.

Copper plummeted 1.3% to $5,643 per tonne and gold ticked 0.3% down to $1,240 per ounce.

Antofagasta (ANTO), BHP Billiton (BLT) and Glencore (GLEN) dropped by up to 4.7%.

The pound continued its downward trajectory and fell 0.7% against the euro following the Bank of England governor Mark Carney's warning that wage growth is falling and the Brexit impact was unclear.

As a result, he said it was not the right time for interest rate hikes.

Carney's comments contributed to widespread weakness in the banking sector. Lloyds (LLOY) fell 2.4% to 67p and HSBC (HSBA) retreated 0.5% to 688.3p.

The FTSE 100 closed 0.4% lower at 7,492.


Weaker oil prices weighed on energy stocks and dragged US equities lower on Tuesday. The S&P 500 fell 0.2% to 2,446.


High street bank Barclays (BARC) was charged with fraud by the Serious Fraud Office in a case linked to Qatar. Barclays was 1.9% lower at 202.8p.

Investors failed to warm to heating products supplier Wolseley's (WOS) latest results as weak growth in the UK concerned investors. The market overlooked a 6.6% rise in like-for-like sales growth as the stock was flat at £48.83.


Pizza delivery company Domino's (DOM) suffered a 6.5% slump in its share price to 295p following a downbeat note from Investec. The research argued that Domino's faced several challenges such as rising competition, increased discounting and a weak consumer environment, prompting a 'sell' recommendation.

Tullow Oil (TLW) slid 4.8% to 150.6p after chief financial officer Ian Springett resigned from the board due to ill health.

A contract win failed to rally shares in defence business Ultra Electronics (ULE). The company announced an $18m contract for an undisclosed major surveillance and security system but the stock was only up 1% to £20.75.


Fashion retailer N Brown Group (BWNG) was in the spotlight as sales from ladies wear rose by 13.5% on a year-on-year basis. Shares in the company rallied 7.4% to 306p.

Elsewhere in the support services sector, Interserve (IRV) won a £265m contract extension with the UK Armed Forces, although it was met with a muted response as the stock retreated 0.2% to 237.7p.

Story provided by

Related Company: BARC

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?


Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.