Hargreaves Lansdown (HL.L) closed trading as the biggest faller after failing to convince investors that proposed regulatory changes would not affect the business.

The Bristol-based financial services company saw its share price plummet by 12.7 per cent to 506.5p, as investors shrugged off assurances from the company.

It had been hurt by news that the Financial Services Authority would seek to end payments from asset managers to fund platforms.

At the end of March, Hargreaves Lansdown's platform had £22.1 billion under administration.

Intercontinental Hotels Group (IHG.L) saw its share drop by 5.2 per cent to 1,147p, after an earlier downgrade to 'neutral' stance by Oddo Securities.

Engineers IMI (IMI.L) and GKN (GKN.L) dropped 4.9 per cent to 990.5p, and 4.7 per cent to 217p, respectively. Elsewhere, global satellite communications company Inmarsat (ISAT.L) dropped 4.4 per cent to 507p.

The biggest riser was silver miner Fresnillo (FRES.L), up 4.6 per cent to 1,813p. It followed an earlier trading update, showing that earnings before interest, tax, depreciation and amortisation was up 92 per cent to $757 million in the first half - compared with the same period last year.

The miner was helped by the average price of silver almost doubling in price, year-on-year, with a strong rise in the gold price also.

Utilities providers Severn Trent (SVT.L) and National Grid (NG.L) both saw share price rise by 2.5 per cent to 1,451p and 2 per cent to 602.5p, respectively.

Retailers Morrisons (MRW.L) and Next (NXT.L) also both rose, with share price up 1.2 per cent to 291.2p and 1.1 per cent to 2,326p, respectively.

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