A huge rights issue from Imperial Tobacco has unsettled London markets this morning, with the FTSE100 currently 47.70 points (0.75%) lower to 6328.80.
The Imperial Tobacco Group is expectedly leading the losses after making a £4.9bn cash call, down 3.51% to 2526.
Mining conglomerate BHP Billiton is being hit hard on a poor start for the mining sector, 3.10% lower to 2128.
ICAP is lower despite reporting a 23% jump in second-half profit, down 3.06% to 649.50.
Pharmaceutical giant AstraZeneca is soaring this morning, up 4.67% to 2396.
British Land suffered its first loss in 20 years, but better than expected overall figures has given it a boost, up 1.78% to 802.
In New York, a late slide dented what were serious gains made by the Dow Jones IA on Monday, finally closing up 41.36 points (0.32%) to 13028.16.
Alcoa enjoyed a fine day at the office to keep up its recent strong trading, up 3.34% to 44.59; while aviation manufacturer Boeing climbed 2.23% to 87.07.
Exxon Mobil and Chevron were popular on the back of the surging oil price, up 1.82% to 94.36 and 1.81% to 102.20.
The saga that is Microsoft and Yahoo led the Bill Gates owned software giant to lose the most ground, down 1.77% to 29.46. Hewlett Packard was also lower on a mixed day for tech stocks, down 1.23% to 46.71.
Investment banks were also on the decline following a Citigroup sector earnings warning, with JPMorgan Chase dipping 1.16% to 45.99.
In Tokyo, a Credit Suisse downgrade for the developers sector led Japanese stocks to fall the most in a week on Tuesday, the Nikkei 225 index closed 109.52 yen (0.77%) lower to 14,160.09.
Other indices in Asia/Pacific also struggled today; Hong Kong’s Hang Seng slid 644.07 points (2.5%) to 25,098.16 and Sydney’s S&P/ASX 200 lost 41.30 points (0.69%) to 5,908.10.IFAonline
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