Oil majors, Fresnillo drag FTSE lower

Oil majors pulled London's main index lower on Wednesday as stock market investors priced in an overnight slide in crude to one-week lows, while miner Fresnillo tumbled on a cut in its annual production forecast. Shares of Shell and were by far the biggest drag on the blue-chip index in early deals, pulling the FTSE 100 0.1% lower by 0707 GMT. The mid-cap FTSE 250 also dipped around 0.1%.

Precious metals miner Fresnillo slid almost 5% to the bottom of the FTSE 100 after it cut its annual production targets, citing lower-than-expected ore grades and construction delays at a gold mine in Mexico.