THE London market paused for breath today after the FTSE 100 Index set a 13-month high in buoyant trading yesterday.
Global markets were lifted by strong results from US bank JP Morgan Chase and powerful gains for miners as the Dow Jones Industrial Average closed above 10,000 for the first since time last October.
The FTSE 100 Index was 11.8 points lower at 5244.3 in the first hour of trading, as the market consolidated its position ahead of results from Goldman Sachs later in the session.
Anglo American was the leading faller, down 3% or 79p to 2232p, after Xstrata ended attempts to secure a mega-merger with its mining rival.
Retail chain Burberry led the risers board, up 3% or 20p to 585.5p, as investors continued to cheer yesterday’s upbeat trading statement.
In a busy session for updates in the FTSE 250 Index, WH Smith rose 4% after it posted better-than-expected full-year profits of £81 million and announced the return of £35 million to shareholders. The stock was up 17.9p at 515p.
Drinks firm Britvic moved in the opposite direction, down 15p to 371p, as Shore Capital downgraded the stock in the wake of a "slightly disappointing" fourth quarter trading update.