FTSE falls as Asian losses dent confidence

The FTSE 100 has opened lower this morning as investor confidence was dented by weaker Asian markets overnight and a flat US session on Monday.

After posting strong gains yesterday, London's blue-chip index was down 20.75 points (0.42%) to 4,875.48 by 10am.

Miners are leading the losses, with Xstrata worst hit, down 3.27% to 842p.

Kazakhmys is also down more than 3% to 950.50p, while Rio Tinto is down 2.65% to £24.47 and Eurasian Natural Resources is down 2.57% to 873.50p.

Retailers however were in favour.  Homebase and Argos-owner Home Retail Group posted a gain of 1.97% to 311.20p.

 DIY operator Kingfisher is also ahead, 1.52% higher to 214.30p; while Marks & Spencer is up 1.3% to 343p.

In Japan, the Nikkei 225 posted a loss of 83.69 yen (0.79%) to 10,497.36 yen. The Nikkei fall comes a day after the index reached a three-month high.

Meanwhile, in the US, the Dow Jones ended Monday up 3.32 points (0.03%) to 9,509.28 points, a more muted gain compared with the UK where the FTSE 100 index bounced over the 4,900 mark.