The FTSE 100 opened marginally lower this morning, despite a positive outlook from AstraZeneca and RSA, and continued support for Glencore following on from yesterday.
The UK's top bluechip index was down 0.25 per cent at 6,395 points, led lower by supermarket Morrisons, which reported sales continued to tumble this morning.
Total sales excluding fuel were down two per cent, while like-for-like sales dropped 2.6 per cent. Morrisons' share price feel 1.41 per cent to 175p in early morning trading on the news.
Standard Chartered also lost further ground, trading 2.76 per cent down at 650p, after announcing plans earlier this week to cut 15,000 jobs and restructure.
Meanwhile, RSA Insurance Group today reported underlying premium income of £4.4bn for the year to date, up one per cent against last year. The company has been hit by currency headwinds and volatile financial markets, but insists that its turnaround remains firmly on track despite the failed deal with Swiss rival Zurich. Stock in the company rose 1.88 per cent to 423.5p when markets opened.
Mining company Anglo American was also trading 1.19 per cent down at 572.75p, retracting from gains made yesterday.
Glencore, however, is still gaining ground after it reassured investors worried about the size of its debt pile yesterday. It also announced a debt reduction target and restated its guidance for the company’s more profitable trading division. Its share price is trading 2.3 per cent up at 128.75p.
Astrazeneca, which today lifted its full-year forecast for revenue and earnings, is currently today's biggest riser. Its shares are trading up 2.58 per cent at 4,221.5p.
Housebuilder Persimmon was among the risers, up 1.4 per cent at 1,888p, despite losing ground yesterday even though it reported a 12 per cent sales hike in the third quarter.
And while Schroders said today assets under management had fallen 4.9 per cent in the three months to the end of September, hit by weak investment returns, its shares were also 0.8 per cent up at 3,026p.