Top UK shares are down this morning putting the FTSE 100 index off by about a point to 6,197 in early trading.
Leading the way are mining stocks, which are suffering as investors take cash ahead of the Christmas trading period.
Rio Tinto leads the losers, down 45p, or more than 1.5%, to £26.90.
Vedanta Resources is down 15p to £11,78.
Antofagasta has shed 5.50p to 502.50p and Kazakhmys is off by 11p to £1,120p.
Oil stocks are down too. BP is off by 3p to 566.50, while Shell A shares are off by 8p to £17.83.
HSBC, Europe’s biggest bank by capitalisation, is off by 2p at 923p.
Weightings are playing a big role today, as two-thirds of companies in the index are actually making share price gains.
Smith & Nephew is up 22p, or more than 4%, to 541.75p to lead the gainers.
WPP, the media group, is up 8.50p to 693p, following gains by media stocks across Europe on the back of an acquisition play by France’s Publicis group involved in a $1bn-plus US deal.
Yell, the publisher of telephone catalogue data, is up 5p to 573p.
Shares fell overnight in New York, sending the Dow Jones Industrial Average index down 7.45 points to 12,463.87
Alcoa, the Aluminum Company of America, fell most, down $0.44 to $30.04.
Setting the trend for BP and Shell here was ExxonMobil there, which dropped $0.91 to $76.08.
Hewlett Packard, Microsoft and IBM all made gains or remained unchanged as the IT sector bounced back.
HP, moving further away from its recent illegal phone-tapping scandal, led the overall gainers by moving up $0.91 to $41.34. Microsoft added $0.10 to $30.09, while IBM remained unchanged at $96.
Shares gained on Tokyo’s Nikkei 225 index earlier today on further weakening of the yen – which improves profitability of exporters such as car and steel makers.
The index climbed 36.79 points to 17,047.83, led by Nikko Cordial, up 82 yen to 1,237 yen.
NSK, a metals processor, gained 57 yen to 1,183 yen. Nikon, maker of cameras and chip manufacturing equipment, added 55 yen to 2,630, while Toyota Motor Co added 130 yen to 7,680 yen.
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