FTSE 100 Dips Amid Energy Share Decline and Miner Rally

The FTSE 100 index fell by 0.1% to 10,671.77 in afternoon trade on Tuesday, with energy shares dipping and miners rallying as copper prices rose.

Oil prices eased back, causing Ithaca Energy, BP, and Shell to decline.

Centrica, the owner of British Gas, also lost ground after news emerged that Prime Minister Andy Burnham plans to create a state-backed body called GB Grid to invest in the grid. Investment director Russ Mould at AJ Bell stated, 'While the market reaction suggests this is not considered to be an existential threat just yet, there will be concern that this is the first step on the road to renationalisation of the electricity network and the country’s wider energy infrastructure.'

On a positive note, miners Antofagasta and Anglo American rose as copper prices increased. Additionally, Convatec was boosted after Bank of America raised its price target for the stock from 295p to 300p.