US stocks slumped to their longest losing streak since the financial crisis as markets brace for heightened volatility ahead of the US election on 8 November.
The S&P 500 posted its eighth consecutive day of losses yesterday and the 'fear gauge' VIX volatility index spiked to 22, almost as high as the days after the UK voted to leave the EU.
Shares in the FTSE 100 are down 0.8% at 6,733 and the mid cap FTSE 250 is down a similar amount as insurance companies and property stocks drag on the main benchmarks.
FTSE 350 MOVERS
DFS Furniture (DFS) is the biggest faller among the UK's 350 largest publicly-owned companies, down 12% to 232p as private equity house Advent International sells 12.1%, around half its remaining stake in the business, for 240p.
Infrastructure investor John Laing (JLG) sells its 29.69% shareholding in the A1 motorway project in Poland for £131m to the First State European Diversified Infrastructure Fund.
Laing says it is also working on other asset disposals which may be completed within the current calendar year so it can make new investments in other projects. The First State deal is expected to go through in the first quarter of 2017. Shares trade 0.2% higher at 270p.
Paddy Power Betfair (PPB) gains 3.5% to £88.82 as it raises guidance for full-year profit following solid third quarter trading. Revenue gained 15% to £404m excluding currency movements and underlying operating profit gained 68% to £95m as margins improved.
Tullett Prebon (TLPR) chief executive John Phizackerley says the company's revenue grew 2% at constant currencies in the third quarter, helped by political uncertainty and clients preparing for a move to higher interest rates. Shares in the interdealer broker trade 2.6% higher at 377p.
British Airways and Iberia operator International Consolidated Airlines (IAG) falls 1.1% to 446p as passenger growth eased in October. IAG reports a 3.9% increase in passenger numbers in October, down from 5.7% growth in September.
Travel between European cities remains solid but domestic travel within countries including the UK, Ireland, Spain and Italy slowed. IAG also says it has agreed with pension trustees to pay £300m annually in deficit contributions to try and plug a £2.8bn deficit.
SMALL CAP UPDATES
The discovery of a few high grade-gold intersections at a project in Australia triggers a 14.6% rise in Ironridge Resources (IRR:AIM) to 17.62p.
PCG Entertainment (PCGE:AIM) jumps 12.5% to 0.36p on an agreement to potentially create a major football academy in China. It has a tentative deal with a Chinese investment group and will seek to enter into a joint venture with a western football club.
Berkeley Energia (BKY:AIM) is trying to raise between $25m and $30m by issuing new shares at 45p. It needs the money to help build a uranium mine in Spain.
