The FTSE 100 trades 19.88 points (0.28%) lower at 7,021 as International Monetary Fund (IMF) boss Christine Lagarde piled more uncertainty on the markets by saying that Greece leaving the eurozone was possible.
Investors were also spooked by a GfK survey claiming that UK consumers are less optimistic about the economy than they were in April.
In company news, life insurer and wealth manager Old Mutual (OML) slips 1.4% to 223.3p on sellingits Skandia Leben business in Switzerland for CHF1.3 billion in a bid to simplify its operations.
Foods, ingredients and fashion giant Associated British Foods (ABF), Primark owner and running Play of the Week, firms 4% to £30.66 as Goldman Sachs upgrades its recommendation from 'sell' to 'buy' with a £31.20 price target.
Home shopping-to-educational supplies firm Findel (FDL) puts on 2.1% at 225p, despite announcing it won't be selling sports retailing arm Kitbag after all. Though disappointing, implying acceptable offers weren't received, the market likes news Kitbag is on the mend and beginning to exploit overseas growth opportunities.
Sterilisation and decontamination specialist Synergy Health (SYR) falls 1.9% to £18.59 as it contest a moveby the US Federal Trade Commission to block medical technology company Steris’ proposed $1.9 billion takeover of the company. It is believed that cutting Steris’ tax bill is driving the deal.
Mid cap hydrocarbons play Ophir Energy (OPHR) gains 5% to 133.6p as Barclays ups its recommendation on the stock to 'overweight' increasing its price target from 200p to 220p. We discuss Ophir's possible takeover appeal in this week's cover.
Toy maker Hornby (HRN) gains 2% to 102.5p after launching an in-house Airfix crowdfunding platform called KitStarter. It lets customers choose which models the company re-develops from its back catalogue and commit to pre-ordering them.
Mobile gaming company Nektan (NKTN:AIM) falls 1.5% to 163p after raising £900,000 via a fundraising over-allotment and issuance of 89,552 new shares. The company has raised a total of £8 million since 28 April to support its expansion in the US casino market.
Testing kit-maker Immunodiagnostics Systems (IDH:AIM) crashes 12.3% to 267.5p on revenues expected to fall this year, mainly due to lower demand for its vitamin D product.
