After yesterday's low key performance for the Footsie, it looks like more of the same today.
Last night US indices finished in the red, with the S&P 500 down six points at 2,042, the Dow Jones average 21 points weaker at 17,56 and the Nasdaq Composite down 17 at 4,833.
After the bell, Alcoa Inc (NYSE:AA) kicked off the first quarter earnings season in less than auspicious fashion by cutting its full-year outlook; the shares shed 4.4% in post-close electronic trading.
The FTSE 100 was down 21 points, or 0.3%, after just over an hour of trading, despite mining stocks generally enjoying a good day.
The gains sported by the mining heavyweights pale into insignificance, however, compared to those sported by some junior miners.
Ferrum Crescent Limited (LON:FCR), for instance, shot up 72% to 0.25p after it said due diligence field trips and desktop study had been completed on Goldquest's Toral and Lago lead-zinc exploration projects in the provinces of Leόn and Garcia in Spain.
Geological assessment by the company indicates major potential for re-interpretation of historical data and delivery of a new geological model identifying significant continuous zones of mineralisation.
Ferrum's advance contributed to a 1.5 (0.2%) gain on the FTSE Aim All-share index to 723. The FTSE Aim 100 index was up 10 points (0.3%) at 3,409.
Vast Resources PLC (LON:VAST) surged 18% after giving the market a gentle reminder about a research note published yesterday on the Proactive Investors web site.
Dalradian Resources (LON:DALR, TSE:DALR) climbed 6.75p to 58p after announcing in-fill drilling results from its Curraghinalt gold deposit in Northern Ireland. The company intersected 1.44 metres of gold at an eyebrow raising 100.66 grams per tonne.
After the daily Metal Tiger plc (LON:MTR) update – and why wouldn't they update daily when every release seems to send the share price higher? - the shares were up 3.2% at 4.075p after the company pointed out that MOD Resources, its joint venture partner in the Botswana copper/silver project, had requested a trading halt on the Aussie stock exchange pending an announcement.
Metal Tiger has a 30% stake in the joint venture with MOD, and also owns 58.3mln MOD shares and warrants that could convert into 29.2mln MOD shares.
Outside of the mining sector, iodine extraction specialist Iofina (LON:IOF) rose strongly for the second day in a row after a reassuring trading update yesterday. The shares were up 38% this morning 12.375p having risen yesterday from 4.5p on Friday to 8.96p.
International aerospace company Strat Aero PLC (LON:AERO) ran into turbulence after placing 35.6mln shares at 1.125p, raising £400,000 in the process. The shares dipped to 0.175p to 1.2p.
The Falkland Islands Holdings PLC (LON:FKL) trading update failed to enthuse the market.
The specialist services group saw its shares slide 25.5p to 180.5p, as it said profitability in the second half of the year was lower than in the first half, though “broadly” in line with expectations.