- The imposition of direct rule in Catalonia over the weekend was the backdrop for losses in London as the FTSE 100 fell 25.01 points to 7,480.02 by midday. Traders were also likely eyeing interest rate decisions on both sides of the Atlantic later this week.

DIY retailer Kingfisher (KGF) was among the top FTSE 100 risers, up 2.3% to 317.5p as Goldman Sachs ups its rating on the stock from 'neutral' to 'buy' and increases its price target from 330p to 375p.

The housebuilders are hit by negative broker comment from Barclays which downgrades its recommendation on several stocks in the sector. Berkeley (BKG) endures the share price biggest hit, down 2% to £37.30.


Bank HSBC (HSBA) fell 1.6% to 736.2p despite third quarter revenue of $13bn coming in slightly ahead of expectations for $12.7bn. This positive was overshadowed by pre-tax profit short of forecasts at $5.4bn, down 1% year-on-year.

Commodities trader Glencore (GLEN) was flat at 367p despite the company upgrading guidance for its trading arm for the third time so far in 2017. Again, there was some bad to balance out the good as its mining division was forced to cut production guidance for copper and zinc.

Budget airline EasyJet (EZJ) gained 2.5% to £12.90 on news it has acquired part of the collapsed Air Berlin's operations for €40m. The deal encompasses leases on 25 planes, flying crews and prized runway slots.

Millennium & Copthorne Hotels' shares edged higher to 590p after it reported a 19.6% increase in third-quarter profits. In constant currency, revenue for the first nine months increased by 4%, which was mainly due to newly refurbished hotels and new property added to the portfolio. The group's shares were up by over 0.4%.


Storage group Lok'n Store shares rose after strong revenue and earnings growth and its sixth successive year of a substantial increase in its dividend. The group has created a strong platform for rapid growth having secured an increase in its new store pipeline to 11 stores which will add around 45% more space to its operation over the coming years. Lok'n Store's shares were up by more than 3.7% to 376p.

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