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Oil majors, Fresnillo drag FTSE lower

Reuters - UK Focus

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

* FTSE 100, FTSE 250 down 0.1%

* Oil firms drag on main index

* Fresnillo down after cutting FY production view

July 17 (Reuters) - Oil majors pulled London's main index lower on Wednesday as stock market investors priced in an overnight slide in crude to one-week lows, while miner Fresnillo tumbled on a cut in its annual production forecast.

Shares of Shell and were by far the biggest drags on the blue-chip index in early deals, pulling the FTSE 100 0.1% lower by 0707 GMT. The mid-cap FTSE 250 also dipped around 0.1%.

Precious metals miner Fresnillo slid almost 5% to the bottom of the FTSE 100 after it cut its annual production targets, citing lower-than-expected ore grades and construction delays at a gold mine in Mexico. (Reporting by Shashwat Awasthi in Bengaluru)