Nasdaq losses cast cloud over Footsie
The Footsie 100 Index is down 8.7 points to 5242.7 at lunchtime.
Weaker hi-tech, media and oil stocks are providing the main drag in a session marked by thin trading.
Losses last night on the tech-dominated Nasdaq hit sentiment early on in London causing a slide among hi-tech stocks.
The Nasdaq fell 3% as concern about the upcoming reporting season in the US rose after several companies scaled back forecasts.
In the City, Logica fell 5%, or 22p to 431¾p while ARM Holdings was 11¾p lower at 264p.
BP and Shell also slipped back as crude oil prices fell marginally from yesterday's six month high.
Shell, fresh from announcing plans to buy Enterprise Oil, fell 8p to 520p while BP was a penny lighter at 623p.
Enterprise Oil was down 4½p at 724½p after yesterday's 16% surge, despite hopes of a counterbid to Shell, with Italian group Eni the main candidate tipped.
Among media stocks, ITV Digital half-owner Granada was 3½p lower at 136¾p as the future of the channel remained in the air. Satellite rival BSkyB was 13½p lower at 816½p, news and information group Reuters was off 19p at 543p and advertising company WPP fell 13½p to 784½p.
There was better news, however, for more defensive stocks with mining group BHP Billiton up 5p at 411½p and Anglo American 5p higher at £12.05.
