London open: Markets dip on mixed earnings, ex-div stocks fall

14th May 2015 08:15

UK shares declined on Thursday morning ahead of a quiet session in terms of economic data, with corporate earnings coming in mixed and a number of ex-dividend stocks in the red.The FTSE 100 was down 0.58% at 6,909.22 early on.Global stock markets closed in a mixed fashion on Wednesday on the back of conflicting economic data across the world: a raft of Chinese indicators disappointed, UK unemployment fell, Eurozone growth picked up, while US retail sales flatlined."A combination of a higher euro and a rise in European bond yields is starting to unsettle stock market investors at a time when concerns about a US rate rise are starting to diminish," said Michael Hewson from CMC Markets.US jobless claims will be the only major economic data release of the day. Initial claims for unemployment benefits are forecast to have risen to 273,000 last week from 265,000 previously. Continuing claims are expected to rise to 2.233m from a 15-year low of 2.228m.Earnings mixed, ex-div stocks fallProperty giant British Land dipped into the red despite meeting forecasts with a small increase in profits in the year ended 31 March. Diluted underlying earnings per share increased 4.1% to 30.6p, more or less in line with consensus estimates.ITV declined despite net advertising revenue being ahead of guidance for the first quarter as sentiment was dampened by a 24-hour staff strike over pay with a protest at the broadcaster's annual shareholder meeting.Alton Towers and Madame Tassauds owner Merlin Entertainments edged higher after a "satisfactory" start to 2015, boosted by favourable weather in Europe and helpful currency movements.Pharmaceutical outfit Hikma advanced as it reiterated its guidance for full-year revenue growth of "around 6% in constant currency".Investment group 3i impressed with its annual results with a strong total return of 20% for the year.A number of blue-chip stocks were trading lower after going ex-dividend, including Aberdeen, Shell, Glaxosmithkline, Kingfisher and J Sainsbury.Market MoverstechMARK 3,217.65 -0.58%FTSE 100 6,909.22 -0.58%FTSE 250 17,806.81 -0.31%FTSE 100 - Risers3i Group (III) 522.50p +2.05%Mondi (MNDI) 1,435.00p +1.49%Hikma Pharmaceuticals (HIK) 2,046.00p +0.79%Pearson (PSON) 1,311.00p +0.69%Centrica (CNA) 277.90p +0.47%Reed Elsevier (REL) 1,085.00p +0.46%Shire Plc (SHP) 5,190.00p +0.39%St James's Place (STJ) 928.50p +0.38%United Utilities Group (UU.) 992.00p +0.35%Burberry Group (BRBY) 1,763.00p +0.34%FTSE 100 - FallersSainsbury (J) (SBRY) 267.40p -2.94%GlaxoSmithKline (GSK) 1,409.50p -2.83%TUI AG Reg Shs (DI) (TUI) 1,173.00p -2.82%Kingfisher (KGF) 351.40p -2.66%Anglo American (AAL) 1,104.50p -2.39%Aberdeen Asset Management (ADN) 433.10p -2.37%ITV (ITV) 255.40p -1.77%Royal Dutch Shell 'A' (RDSA) 2,009.50p -1.76%Rio Tinto (RIO) 2,927.50p -1.71%Glencore (GLEN) 296.10p -1.60%FTSE 250 - RisersCrest Nicholson Holdings (CRST) 490.10p +2.13%Thomas Cook Group (TCG) 159.20p +1.66%TalkTalk Telecom Group (TALK) 367.10p +1.07%Fidelity China Special Situations (FCSS) 165.00p +0.98%Bovis Homes Group (BVS) 1,045.00p +0.97%Dairy Crest Group (DCG) 491.60p +0.90%Bellway (BWY) 2,202.00p +0.87%Howden Joinery Group (HWDN) 495.60p +0.85%Spectris (SXS) 2,260.00p +0.76%Indivior (INDV) 230.00p +0.74%FTSE 250 - FallersKeller Group (KLR) 990.50p -3.74%Fidessa Group (FDSA) 2,290.00p -3.58%Telecity Group (TCY) 1,082.00p -2.96%Carillion (CLLN) 329.20p -2.86%SIG (SHI) 205.30p -2.79%Restaurant Group (RTN) 702.00p -2.43%Inmarsat (ISAT) 990.00p -2.37%Diploma (DPLM) 786.00p -2.30%Vedanta Resources (VED) 645.00p -2.27%Vesuvius (VSVS) 445.50p -2.26%