FTSE 100 weak on energy, strike and drought concerns

FTSE 100 opened lower, down 73 points to 7,414. Shares in London got off to a weak start following falls in the US on Tuesday and Asia overnight.

The Trades Union Congress said the minimum wage should be raised to £15 an hour. Currently, workers aged 23 and over are entitled to a minimum wage of £9.50 with lower rates for younger employees.

A Toyota advert that “condoned and encouraged unsafe or irresponsible driving” has been banned. The Advertising Standards Authority ruled people were able to infer Toyota GR Series vehicles were “capable of delivering a performance based on speed and an element of risk.”

A hosepipe ban from Thames Water comes into effect today. 15mln people are expected to be impacted by it.

Cornish Metals hit high-grade intersections of copper, tin, and zinc mineralisation at United Downs in Cornwall. All four of the remaining holes from the Phase 1 drilling programme intersected multiple zones with metal.

Gfinity launched a gaming tournament-based platform Athlos Game Technologies targeting the fast-growing games services sector. The company also revealed the appointment of EA veteran Todd Sitrin as a strategic advisor to Athlos.

Deltic Energy said it is ‘incredibly excited’ at being on the verge of drilling its first well with Shell. The Pensacola exploration well is due to spud in October and that will be primary focus over the coming months.

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