London’s blue chip stocks opened lower despite a positive session on Wall Street overnight.
On Wall Street last night there were yet more new record highs, as a rally in tech stocks set a new high tide mark for the NASDAQ.
The S&P 500 also gained, rising almost 1% to 2,123, while the Dow Jones added around 0.7% to 18,162.
In Europe, French and German finance ministers downplayed the claims that Greece is close to a deal with its creditors.
To the UK and the FTSE 100 eased 15 points to 7,017 but sporting goods store Sports Direct International (LON:SPD) was bucking the downward trend.
The Mike Ashley-backed company said its earnings before tax, interest, depreciation and amortization was ahead of expectations at £380m.
The firm also increased its forecasts for the year sending shares 4% higher to 686p.
Similarly, B&Q owner Kingfisher (LON:KGF) also found itself near the top of the index.
Shares advanced 3% to 378p in early deals as the home improvement retailer’s like-for-like sales figures improved.
Meanwhile, miners struggled this morning with Anglo American (LON:AAL) leading the fallers. Shares eased more than 2% to 1,018p.
Mike van Dulken, head of research at Accendo Markets, said: “The major London-listed blue-chip miners are underperforming this morning as their exposure to multiple drivers weighs on the sector.”
Away from the index, Tate & Lyle (LON:TATE) warned that profits are likely to be flat this year, as it reported an 80% drop in pre-tax profit for 2014. Shares dropped 4% to 574p.
In broker news, heavyweight JP Morgan Cazenove has its sights on UK insurers and has given Direct Line (LON:DLG) an upgrade. Shares rose more than 1% to 334p.
Elsewhere, Intertek (LON:ITRK) had its target price slashed to 2,654p from 2,725p by Deutsche Bank ehich also put a ‘hold’ rating on the stock. Shares fell almost 2% to 2,526p.
In small cap news, Ortac Resources (LON:OTC) said its exploration partner Andiamo is about to kick off a 1,000m drill programme on the Haykota licence in Eritrea. Share rose almost 6% to 0.1p.
Meanwhile, Connemara Mining (LON:CON) announced initial results from its prospecting programme in Donegal.
Quartz vein boulders up to 45cm in diameter containing encouraging grade gold have been found in a one kilometre square area. The news sent shares rocketing 35% to 2.2p making it the big gainer in early deals.