FTSE 100 down as blue chip Burberry leads fallers

The leading share index opened down this morning, tracking falls in the US and Asia, as investors waited for key decisions over European Central Bank bond buying and US quantitative easing.

Fashion retailer Burberry led the fallers, down almost 19 per cent as the firm warned of a sales slowdown. It said annual profit would be at the lower end of market expectations.

Photo booth operator Photo-Me fell by almost 6.5 per cent, while tools and systems provider Oxford Instruments fell 6.08 per cent as it said there was some “softness” in its industrial markets in an AGM statement today.

FTSE 100 miners also made an appearance in the fallers, with Vedanta and Anglo American shedding 5.33 per cent and 2.82 per cent respectively. Vedanta announced this morning it is suspending its mining operations in Goa.

With regards to the risers, African industrial provider Lonrho added 6.55 per cent in early trading.

Ferrochrome producer International Ferro Metals rose 5.46 per cent, as it said it was confident its cost reduction strategy was on course.

Elsewhere, retailers Supergroup and Ocado were also in the early risers, adding 5.18 per cent and two per cent respectively. Supergroup, which owns brand Superdry, today reported resilient UK sales despite a wet summer, which buoyed its share price.

UK financials struggled this morning. HSBC fell 0.18 per cent, Barclays fell 0.24 per cent, Lloyds Banking Group fell 2.14 per cent and RBS fell 0.36 per cent in early deals.

In Asia, the Nikkei closed 0.7 per cent down, while in the US the Dow Jones closed 0.39 per cent down in the run-up to the Federal Reserve meeting later this week.