The FTSE 100 is hovering around the 4,000 mark in early trading, with Reed Elsevier , among the morning's biggest losers, down 4.81% to 475p after it warned earlier this week it expected its business-to-business publishing division to see profits fall substantially this year.
Meanwhile Centrica is trading ex-dividend today, and as such stands with the second largest dip in its share price down 4.47% to 235p.
Lonmin also fell 4.57%, as did BT Group, with the latter seeing shares fall after rumours the company may have to write off substantial value on a number of private a public sector contracts. The stock is currently down 3.30% at 89.90p just before 9am.
Meanwhile financials are leading the upside this morning, after the IMF withdrew a claim UK banks will face a £200bn bailout bill. The IMF retracted the figure correcting it to the original estimate of £130bn.
RBS leads the pack adding 4.90% to 32.10p while Lloyds and Barclays have risen 4.63% to 99.40p and 4.27% to 207.5p respectively.
In New York, the Dow Jones closed 127.83 points or 1.63% up to 7969.56 points led by a rally in bank shares.
This included a 10.20% rise for Citigroup which saw its shares close at $3.24.
In Japan the Nikkei closed 15.97 points or 0.18% up at 8727.30.IFAonline
All-day event on 24 April
Consequences could be more severe than in stress tests
AFH has six segregated mandate funds
Variable operating expenses