The FTSE 100 is lower this morning as retailers continue to announce underwhelming Christmas sales figures. The index is currently 33 points down (0.53%) to 6182.70.
A JPMorgan Chase downgrade has led B&Q owner Kingfisher to the worst start, down 3.74% to 126.20.
British Land was also stung by a 'sell' from 'hold downgrade by SG Securities, leading it to fall 3.65% to 910 so far.
Tesco is down after announcing its like-for-like sales in the six weeks to 5 January climbed 3.1%, lower than analyst expectations. It is currently 3.15% behind to 406.75.
In contrast to the poor performing Tesco, rival Sainsbury is leading the gains this morning, up 3.96% to 394.25.
International directories company Yell is also higher, currently 2.81% ahead to 347.25.
In New York, Wall Street finally had some reason for cheer as strong Q4 results for IBM drove the Dow Jones index up 171.85 points (1.36%) to 12778.15 on Monday.
Computer conglomerate IBM announced its Q4 earnings climbed 24% and revenue increased 10%, sending its stock up 5.39% to 102.93.
The positive result rubbed of on the rest of the Tech sector, with Intel enjoying sharp gains also, up 4.96% to 23.08.
Alcoa, the world's leading primary aluminium producer, also experienced a solid start to the week – closing 3.69% higher to 32.90.
Merck was the only stock to lose significant ground overnight, the pharmaceutical giant fell 1.27% to 59.78.
In Tokyo, the Nikkei 225 index closed below 14000 for the first time in 26 months, ending Tuesday trading on 13,972.63, a drop of 138.16 yen or 0.98%.
Investors retreated from small caps, while blue chips also took a battering from uncertainty in US earnings outlooks.
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Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till