Joshua Raymond, Market Strategist, City Index commented: 

“Traders paused for breath on Wednesday morning, helping the DAX and CAC to post minimal gains whilst the FTSE 100 Index lagged wider European Indices after BP, GlaxoSmithKline, International Energy and Royal Dutch Shell all went ex-dividend, taking 19 points off the UK Index.

What we have noticed is traders employing the weaker Copper cost as an excuse to take some profits off the table in mining equities, whilst dividends are weighing on oil giants BP and Shell, which is in turn making the energy sector drag the FTSE 100 lower.

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