Wednesday March 26, 08:37 AM
London shares open weaker after DJIA falls; Xstrata top FTSE 100 faller
LONDON (Thomson Financial) - Leading shares were weaker early on, with sentiment undermined after the DJIA fell following downbeat economic data after big rallies in the prior two sessions.
Xstrata (LSE: XTA.L - news) led the blue-chip fallers early on, down over 10 pct as Brazil's Vale said late Tuesday it has ended talks to buy its rival.
At 8.15 am, the FTSE 100 index was off 33.5 points at 5,655.6, with the FTSE 250 (news) index down 56.9 points at 9,737.7.
In the US, the Dow Jones Industrial Average fell 16.04 points to 12,532.60, while the S&P 500 index rose 3.11 to 1,352.99, and the Nasdaq (NASDAQ: news) added 14.30 to 2,341.05.
A survey showing US consumer confidence slid to a five-year low in March while a measure of expectations for the future hit the weakest level in 35 years.
A separate report showed home prices slumped 10.7 pct from a year ago in major US cities as more air came out of the housing bubble.
In Asia, the Hang Seng (news) index closed up 152.49 points at 22,617.01, while the Nikkei 225 (news) index closed 38.59 points lower at 12,706.63.
Turning to commodity markets, oil prices were higher in Asian trade Wednesday ahead of the release of the US government's weekly energy stockpiles report.
In afternoon trade, New York's main contract, light sweet crude for delivery in May, rose 55 cents to 101.77 usd per barrel. The contract closed up 36 cents at 101.22 in floor trading Tuesday at the New York Mercantile Exchange.
London's Brent North Sea crude for May delivery climbed 32 cents to 100.92 dollars a barrel, after settling at 100.60 on Tuesday.
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