Financial News

LONDON (ShareCast) - 1355: Footsie (news) 's downward drift has continued ahead of the US open. Insurer Prudential leads the fall, while platinum group Lonmin (LSE: LMI.L - news) is now the worst performer in the mining sector. Asia-focused bank Standard Chartered (LSE: STAN.L - news) is lower after it said it enjoyed record income and operating profit before tax in the first five months of this year, but remains cautious on the outlook. Meanwhile, Tullow Oil (LSE: TLW.L - news) now leads the risers, helped by higher crude prices. FTSE 100 down 51 at 4,228.

1210: Footsie has drifted lower with financial stocks and miners among the fallers. Asia-focused bank Standard Chartered is lower after it said it enjoyed record income and operating profit before tax in the first five months of this year, but remains cautious on the outlook. Elsewhere in banking though, RBS (LSE: RBS.L - news) leads the risers after Cazenove upgraded its rating on the stock. Away from banking. Rio Tinto (LSE: RIO.L - news) leads miners lower. FTSE 100 down 33 at 4,246.

1030: Miners continue to be a drag on the Footsie, with Lonmin, BHP Billiton (LSE: BLT.L - news) and Rio Tinto the main fallers, the latter despite being chosen by UBS (Virt-X: UBSN.VX - news) as its preferred stock in the sector. The broker says: "We believe that the conclusion of the refinancing of Rio's balance sheet will represent a substantial catalyst for the stock and as a result Rio will close the valuation gap between it and rival BHP Billiton." FTSE 100 is down 11 at 4,269.

0911: Leading shares are mixed, with insurers enjopying mixed fortunes. Friends Provident and Prudential feature prominently among the laggards but Standard Life (LSE: SL.L - news) and Legal & General (3166.KL - news) are close to the top end of the table. FTSE 100 is down 3 at 4,276.

0821: London's top stocks are lower in early dealings Thursday following a weak finish in the US last night, with miners among the main fallers. In corporate news, full-year underlying profit plunged 78% at electrical retailer DSG International (LSE: DSGI.L - news) as the recession forces consumers to rethink spending. FTSE 100 is down 14 points at 4,265.