The FTSE 100 is down 9.6 points, or 0.15%, to 6,559 in early trading, despite strong gains from the mining sector.
Land Securities Group is the biggest loser with a fall of 3.02% to £19.57, as it announced it will focus on development and outsourcing, as growth is slowing across some segments of the traditional property investment markets.
HSBC Holdings is also down 1.58% to 932.5p, closely followed by Liberty International which is down 1.45% to £12.27, while DSG International has slipped 1.37% to 173.3p, as it admitted it will incur restructuring and impairment charges of between £180m and £200m.
Carnival has fallen 1.39% to £24.76, although losses are being limited by 3I Group which has advanced 1.59% to £12.15, while Compass Group has started the day well with gains of 1.46% to 365.5p.
However, miners are posting the biggest gains as Lonmin is up 2.77% to £38.63, closely followed by Rio Tinto which has climbed 1.75% to £35.41, while Vedanta Resources has slipped 1.72% to £14.19.
In Japan, the Nikkei 225 Stock Average added 16.02, or 0.1%, to 17,529, as construction companies and rail operators dropped following forecasts of declining profit this year.
Kajima, Japan’s larges contractor, slumped 57 yen, or 9.7%, to 530, while Obayashi, the nation's No. 4 general contractor, plunged 24 yen, or 3.3%, to 707, Shimizu, the third biggest, tumbled 25 yen, or 3.4%, to 710, and Taisei, the second largest, slid 14 yen, or 3.4%, to 399.
Rail companies also fell with Tokyu slumping 36 yen, or 4.1%, to 846, while East Japan Railway, the nation's largest, slipped 8,000 yen, or 0.8%, to 947,000, and Central Japan Railway, the second biggest, declined 20,000 yen, or 1.5%, to 1.3 million.
Elsewhere, Canon, the largest seller of digital cameras globally, added 100 yen, or 1.5%, to 6,970, while Honda Motor climbed 60 yen, or 1.5%, to 4,130, Sony rose 80 yen, or 1.3%, to 6,460.
In the US, the Dow Jones Industrial Average ended yesterday’s session up 37.06 points, or 0.28%, to 13.383.84, as the latest inflation data raised hopes of a possible cut in interest rates later this year.
General Motors posted the biggest gains with a rise of 4.41% to $31.97, closely followed by Alcoa which climbed 2.45% to $39.29, while Verizon Communications advanced 2.26% to $42.54.
3M Company added 1.58% to $86.17, while McDonald’s gained 1.26% to $51.27, although gains were limited by Honeywell International which ended the session down 1.18% to $58.01.
However, Home Depot was the biggest loser with a fall of 1.82% to $38.30, closely followed by Johnson & Johnson which slipped 1.26% to $61.82, while IBM fell 0.7% to £104.83, and Hewlett-Packard dropped 0.6% to $44.75.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Nyree Stewart on 020 7034 2681 or email [email protected]IFAonline
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