The majority of FTSE100 companies are struggling this morning with about 80% in the red so far. London's blue chip index is currently 44.90 points (0.82%) lower to 5405.
Oil giants are among the losses as crude prices fell by another $3 overnight. Crude is now just over $124 a barrel, down $23 on early July highs.
Cairn Energy continues to be hit by the falling prices, down 6.18% to 2536. A huge rise in second quarter profits has done little for BG Group, down 5.44% to 1078. Tullow Oil is also lower, 4.7% behind to 729.50.
The London Stock Exchange Group is leading the way so far, up 8.91% to 898. B&Q owner Kingfisher is storming ahead on a recent sales surge, 7.11% higher to 125. Rolls-Royce is also doing well, up 4.34% to 384.75.
In New York, the crude oil slide is having a positive effect on US equity markets, with the Dow Jones IA closing Wednesday 29.88 points (0.26%) ahead to 11632.38.
AIG continued on its merry way on a day when Congress approved the Fannie Mae and Freddie Mac rescue deal. The insurer was up 6.97% to 30.10.
Home Depot climbed on a mixed session for retailers, up 4.51% to 25.03; while pharmaceutical giant Pfizer leapt 3.92% to 19.07.
Aviation giant Boeing lost the most ground after seeing a 19% plunge in quarterly profits, falling 3.67% to 66.72. Chevron led the oil majors lower, down 3.48% to 82.65.
In Tokyo, Japanese stocks climbed sharply again on Thursday with exporters at the forefront of the solid gains. The Nikkei 225 increased for the third straight day, up 290.38 yen (2.18%) to 13,603.31.IFAonline
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