Market overview: Anglo American and Glencore lead losses as copper slips

1630:Close The FTSE 100 moved lower led by losses in the shares of mining groups Anglo American and Glencore, alongside a retreat in stock of Weir Group. Three-month copper futures were down by 0.9% to $6,012 per metric tonne on the LME at the finish. Front month Brent crude futures fell 1.28% to $64.73 per barrel by the closing bell. Weakness was evident in the commodity space despite what some analysts described as relatively positive Chinese manufacturing data. A poor start to trading on Wall Street despite the release of a barrage of better than expected US economic data also weighed on stocks. FTSE 100 down 30.85 points to 6,953.58 points.

1500: The US ISM's manufacturing sector PMI rose to a reading of 52.8 for May after printing at 51.5 for the month before (consensus: 52). A sub-index of new orders rose to 55.8 from 53.5 - its highest since December. US construction spending jumped 2.2% month-on-month (consensus: 0.7%).

1423: Gains in shares of Ashtead are being attributed to positive comments out from analysts at Jefferies.

1421: Shares in Morrison are edging slightly lower with market commentary highlighting the risk of a demotion to the FTSE 250 in this week's quarterly review. A decision is expected on Tuesday. Inmarsat is expected to take its place.

1331: US personal incomes rose by 0.4% month-on-month in April (consensus: 0.3%) but spending was flat (consensus: 0%), as consumers opted again to pocket the saving from the drop in fuel prices instead of splashing out.

1330: Three-month copper futures on the LME are falling 1.7% to reach $5,987.50 per metric tonne on the LME.

1317: Officials close to the creditor talks with Greece have denied market chatter that a deal with Athens will be announced this afternoon, Reuters reports.

1305: US chip maker Intel has announced the purchase of smaller rival Altera for $16.7bn.

1139: Imagination Technologies has popped higher after analysts at Liberum tipped it as a possible take-over target. That comes after Intel sold out of the company earlier in the year and given Imagination's current discount to the peer group. Electronic design automation companies such as Synopsys, Cadence or IP outfits such as Rambus are among the potential acquirers, the broker said.

0928: Markit's UK manufacturing PMI edged higher to a reading of 52.0 for May from 51.8 in April (consensus: 52.5). The first regional readings on German CPI are coming in ahead of economists forecasts.

0900: Markit's manufacturing sector Eurozone purchasing managers' index for May slipped to a reading of 52.2 from 52.3 in the month before (consensus: 52.3). Spain's headline PMI surprised strongly to the upside with a reading of 55.8 but at 51.1 Germany's was wide of the mark (consensus: 51.4).

0844: Stocks have started higher on the back of an ‘in-line’ reading on activity in China’s manufacturing sector. AstraZeneca is in the lead early on, thanks to favourable clinical data. There has been a fair bit of news-flow over the weekend regarding ground-breaking research in the immuno-oncology arena. Miners and oil stocks are under pressure. UKFU has pared its stake in Lloyds below the 19% threshold. There is a raft of US economic data scheduled for release later in the day. FTSE 100 up 50.15 points to 7,034.58.