Footsie in red despite lift by commodities

The FTSE 100 finished in the red despite a surge in commodity stocks, closing 8.78 points lower at 7,268.95.

This came in spite of a boost from stocks such as mining group Rio Tinto, which hit its highest level since the financial crisis, climbing 134p to 4,776p on the back of a rally in Chinese iron ore futures. BHP Group was also up 34p to 1,834p.

Meanwhile, the pound was steady, inching up 0.04 per cent versus the euro to €1.133 and down 0.15 per cent against the dollar to $1.266.

Neil Wilson, chief market analyst at Markets. com, said: “The pound is steady but still under lots of pressure from no-deal fears – expect volatility to move higher again as the Tor y Party leadership contest races to a denouement.”

In company news, housebuilding giant Bovis Homes confirmed it is no longer in discussions to acquire rival Galliford Try’s housing business, after a deal worth £950 million was rejected last week. Shares in Bovis were 2p higher at 996.5p, with Galliford Try up 19.5p to 558p.

Troubled five-a-side football pitch business Goals Soccer Centres has warned over results for both 2018 and 2019 as an accounting blunder continues to wreak havoc. The firm’s shares on London’s junior market remain suspended.

Mike Ashley’s Sports Direct confirmed the £120m sale of its Derbyshire headquarters in a deal with a Malaysian pension fund.

The sp or ts retail group has sold the free - hold for its Shirebrook logistics centre to Kwasa Logix Sportivo, which is said to be owned by the Malaysian Employees Provident Fund. Shares in Sports Direct were 9.2p higher, closing at 290.8p.