The FTSE 100 has hit back this morning, despite an overnight hammering of Wall Street stocks, currently down just 0.80 points, or 0.01%, to 6497.90.
The agreed merger with Friends Provident has led Resolution to an early drop of 19 points, or 3.01%, to 612.
British Energy Group has had a sluggish start, falling 12.75 points, or 2.5%, to 496.25.
SABMiller has started well, as speculation American brewers Molson Coors is looking to find a merger partner, currently up 23 points, or 1.77%, to 1321.
Vodafone is also enjoying positive early gains, up 2.6 points, or 1.67%, 158.6.
In New York, investor concerns on the weakness in the US housing market drove Dow Jones 226.47 points lower, or 1.62%, to 13716.95.
To put the bad day into perspective, Verizon was the only company to make a gain, up 0.32 points, or 0.75%, to 43.11.
Du Pont and American Express took a beating, falling 6.31% and 5.40% respectively.
Chemical giant DuPont recoded $1.04 per share second quarter earnings, 0.3 cents lower than analysts’ forecasts – sending stock down 3.36 points, to 49.9.
American Express did post better than expected profit, but revenue disappointed, leading to a drop of 3.49 points, to 61.17.
The Tokyo, the Nikkei was not spared by the US loss, falling 143.61 points, or 0.8%, to 17,858.42.
Dowa Holdings lost the most ground, the metal manufacturer fell 77 points, or 5.19%, to 1,406.
Nippon Oil didn’t fare too much better, a third straight drop in US crude prices led to it closing 45 points down, or 3.86%, to 1,121.
Mitsukoshi had a great day, the Japanese department store begun talks to merge with rival Isetan, pushing the stock up 41 points, or 7.51%, to 587.
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