FTSE drops after IMF pulls out of Greece talks

The FTSE 100 has reversed gains made earlier this week after the International Monetary Fund (IMF) walked out of bailout talks with Greece.

Mounting concerns over an impeding Greek exit from the eurozone are weighing on investor sentiment this morning, as it looks less likely the country will reach an agreement with the IMF by the end of the month. The IMF quit bailout talks overnight, accusing Greece of failing to give ground on labour and pension reforms. As a result, the blue chip index was down 0.7% by mid-morning, trading at 6,803, ending the winning streak of the past few days. Metals miner Fresnillo was one of the largest fallers in the index, down 1.9% to 722p, while Royal Dutch Shell and Randgold Resources are...