The FTSE 100 opened firmer this morning despite a new threat from US President Donald Trump of potential 50% tariffs on copper and a levy of 200% on pharmaceuticals.
While that's put pressure on some of the miners, an hour into the session, London's blue-chip index is 16 points higher at 8,870, a gain of about a fifth of a percent.
Defensive stocks including cigarette makers British American Tobacco (LSE:BATS) and Imperial Brands PLC (LSE:IMB) are up near the top of the risers.
Miners, Antofagasta PLC (LSE:ANTO), Glencore PLC (LSE:GLEN) and Anglo American PLC (LSE:AAL) are all down over 2% on the threat of the US copper tariff.
The biggest faller in the Footsie is WPP PLC (LSE:WPP), with its shares dropping sharply following what is effectively a profit warning. The advertising and marketing giant sounded the alarm as it pointed to a tougher economic environment and weaker new business as reasons for the revision.
The biggest fallers on the FTSE 250 are Close Brothers Group PLC (LSE:CBG) and Zigup PLC (LSE:ZIG).
Zigup reported an 8% decline in profit for the past year and kept its outlook unchanged.
Shares in Close Bros have dropped almost 7% as the merchant bank said it is leaving the Premium Finance business, which provides loans for people to pay for car and home insurance in instalments.
