FTSE 100 opened lower, losing 6 points to 7,537. A weaker than expected Chinese manufacturing report is weighing on the miners, with Glencore and Endeavour both down.
BP reported its highest profit in over a decade in the first quarter of this year. The £5bn was thanks to strong oil and gas prices that proved beneficial prior to Russia’s invasion of Ukraine.
Post Office workers will carry out a one-day strike as part of a pay dispute. Some 114 branches will shut, with no cash deliveries or collections from the 11,500 sub-post offices around the UK.
European Union officials are preparing to issue more sanctions on Russia this week. The 27 countries may ban oil from Putin’s state by the year-end if Germany gives its nod of approval.
Caerus Mineral and Bezant Resources said drilling results confirmed a new mineralised zone to the northwest of the Troulli copper-gold deposit in Cyprus. The best hole returned 1.8% copper equivalent over 21 metres.
Learning Technologies Group said its first-quarter acquisitions have been fully integrated and are achieving substantially improved profit margins. Trading in the first quarter of the year was strong and in line with management’s expectations.
Europa Metals has initiated a new drilling programme at the Toral lead-zinc project in Spain. A series of holes will be drilled at depth, targeting an increase in the existing JORC indicated resource.