Picking up where it left off yesterday afternoon the FTSE 100 index of leading UK companies is down about 24 points to 4,478.
Telecoms are down on news from European competitors, with France Telecom planning a 4bn euro sale of its yellow pages business and mobile phone company Bouygues planning to cut the price of text messages in France.
BT and Vodafone both got caught out by the implications of these moves: a big overhang of new telecoms stock in Europe could make it harder for Vodafone to use paper rather than cash to make further acquisitions.
BT is down 3.75p to 192.25p.
Vodafone is down 2.25p to 123.25p.
Mining firms dropped after Goldman Sachs suspended its ratings of companies in the sector because of a change in analysts.
BHP Billiton is down 5.25p to 464p.
Anglo American is down 11p to 1,117p.
Centrica is up 4p to 225.25p after more gains on its decision to sell is Automobile Association business.
AstraZenica is up 8p to 2,582p after regulators in Sweden approved a new anti-clotting agent to help in the treatment of blood clots associated with strokes.
Stocks fell by the close yesterday in New York.
The Dow Jones Industrial Average index fell 44.94 points to 10,371.47, while the S&P 500 index fell 4.72 points to 1,130.30.
The Nasdaq Composite index dropped 12.35 points to 1,974.38.
Tokyo’s Nikkei 225 index is up 18.89 points to 11,581.27, while Hong Kong’s Hang Seng index is down 9.96 points to 11,845.59.IFAonline
What made financial headlines over the weekend?
Pensions neglect to be criminal offence
All-day event on 24 April
Consequences could be more severe than in stress tests
AFH has six segregated mandate funds