FTSE 100 OPEN: Silver miner Fresnillo drops on analyst move

Fresnillo was the biggest faller early on as reports that Deutsche Bank had cut the Mexican silver miner’s status to “hold” emerged.

The miner saw its share price slip by 2.4% to 1,780p (at 0810 GMT). It was joined at the bottom by Admiral, dropping 1.3% to 1,147p.

Commodities trader Glencore International, Tullow Oil and miner Xstrata all fell by 1.1%% to 400.5p, 1,444p, and 1,134.5p, respectively.

The biggest climber was Essar Energy, which saw its share price grow by 1.4% to 110.5p (at 0808 GMT).

Old Mutual saw its share price increase by 1.2% to 164.5p, while supermarket giant Tesco rose by 0.7% to 316.3p.

Asset manager Schroders saw its non-voting share class climb 0.6% higher to 1,242p, while commercial broadcaster ITV increased by 0.5% to 87.1p.