Precious metals stocks lead FTSE fall Precious metals stocks are leading overall losses on the FTSE 100 after Randgold Resources revealed the extent of the impact of the gold price slide on its first-quarter earnings. The miner reported a steeper-than-expected fall in earnings per share for the period of $0.76, down from $0.97, a 40 per cent decline from the previous quarter. The fall came even as overall production met forecasts, after the spring slide in gold prices eroded profits. The slide in gold prices led to a warning from Evy Hambro, who manages the emblematic commodities funds of BlackRock that together have more than $7bn in gold-related assets, that miners could become a "barbarous relic" to equity investors unless they return more money to shareholders. Randgold said it was reviewing capital expenditure across its operations. Its shares were 4.5 per cent weaker at £48.84, the biggest single loss on the top tier by a clear margin. Fellow gold miner Polymetal lost 1.2 per cent to 672p, while Fresnillo, the Mexican silver miner, fell 0.2 per cent to £11.45. Overall, the FTSE 100 slipped 0.3 per cent to 6,433.03. BG Group made the best single gain, up 2.7 per cent at £11.19 after its first-quarter earnings fell less steeply than feared, down 3 per cent to £1.2bn. There was a dizzying slide for Imagination Technologies on the FTSE 250 after the chip technology licensing company issued a profit warning. The company, which owns intellectual property rights on the design of graphics chips used in a range of devices including the iPhone, said delays on licences meant profit would fail to meet forecasts. Its shares fell 22 per cent to 331.4p, even as it said it was confident the problems were only short term in nature. Overall, the FTSE 250 was 1 per cent weaker at 13,885,65.