FTSE 100 OPEN: Weir drops on reports of price target cut

Engineer Weir Group was the biggest faller in early trading after reports that Citigroup had cut its price target for the FTSE 100-listed company.

The engineer saw its share price drop by 3.1% to 1,972p (at 0827 GMT).

It was joined at the bottom by Essar Energy, which dropped 2.9% to 110.5p.

A trio of miners were also at the foot of the table with copper miner Kazakhmys falling by 2.2% to 978.5p, as Rio Tinto and silver miner Fresnillo both fell by 1.7% to 3,498.5p and 1,864p, respectively.

Oil giant BP was the biggest riser as share price climbed 2.3% higher to 507.7p (at 0825 GMT).

Oil and gas services company Petrofac rose 1.7% to 1,6000p, as Guinness brewer Diageo rose by 1% to 1,519.5p.

Interdealer broker Icap added 0.5% to its share price early on, increasing to 406.7p, while engineer Meggitt rose 0.4% to 401.6p.