FTSE 100 has so far lost about 19 points to 4,466 after UK stocks fell this morning, paced by clothing firm Next.
Next lost 25p to 1,405p after Merrill Lynch cut its recommendation for the retailer’s stock to "neutral" from "buy".
Cable & Wireless fell 1.25p to 128.75p after Morgan Stanley cut its share forecast with 4.3% for the phone-company.
FirstGroup rose 9p to 283.5p. The bus and rail company has been named as the preferred bidder for the seven-year Scottish Passenger Rail franchise by the Strategic Rail Authority.
In the meantime, National Express, one of FirstGroup's rivals that currently holds the contract, shed 8p to 709p.
In Asia, Tokyo's Nikkei 225 index lost 49.15 points to 11,526.82 earlier today, and Hong Kong's Hang Seng index dropped 38.65 points to 12,384.22.
Across the Atlantic, the Dow Jones Industrial Average index ended up 41.66 points at 10,410.10 yesterday, and the S&P 500 index ended up 5.14 points at 1,136.47.
Nasdaq's Composite index gained 9.26 points to just below the 2,000 mark at 1,999.87.IFAonline
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First mentioned in Cridland Report