London stocks edged lower in early trade as investors mulled over an uninspiring survey on UK consumer confidence and looked ahead to the final release of first-quarter GDP figures.
At 0830 BST, the FTSE 100 was down 0.4% to 7,318.53, while the pound was up 0.2% against the euro at 1.1391 and flat against the dollar at 1.3007.

Consumer confidence in the UK fell to its lowest level since the aftermath of the Brexit vote in June, according to the latest GfK survey. GfK's consumer confidence index declined to -10 from- 5 in May, missing expectations for a smaller drop to -7 as rising prices and worries about the inconclusive general election put shoppers off big purchases.

All five constituents fell in June, with the biggest drop in the major purchase index, which slid eight points from May to 1, eight points lower than June 2016. The index measuring changes in personal finances in the last 12 months dropped three points to -1, seven points below this time last year, while the measure for the general economic situation during the last 12 months was down five points to -25, which was 12 points below June 2016.

John Staton, head of market dynamics at GfK, said: “This month's survey covers the period before and after the UK general election and reveals a sharp drop in confidence among consumers across all measures. The overall index score is just two points away from last year's post-Referendum low of -12. We have falls this month reflecting negative sentiment about our personal financial situation and expectations for the wider economy. The scores on the general economic situation looking forward and back 12 months are now particularly weak.”

In corporate news, shares in Old Mutual nudged lower after its affiliated asset management arm OM Asset Management announced overnight that Peter Bain was stepping down from his roles as president, chief executive officer and director – positions he had held since 2011 – as of Friday.

John Laing Group was a little lower despite saying it was pleased with its first-half portfolio progress, while BHP Billiton retreated after announcing the approval of $250m in financial support for the Renova Foundation and Samarco Mineração until 31 December 2017.

FTSE 250 service company Serco was on the back foot as it said it remains on track for the full year following a solid performance in the first half.

Shares in video games retailer Game Digital tanked after it cautioned that full-year profit will be “substantially” below previous expectations due challenging trading conditions, low supplies of the Nintendo Switch in the UK and softness in its core Xbox and PayStation markets.

United Utilities was under the cosh after Credit Suisse cut its stance on the stock to 'underperform', while Greene King was hit by a downgrade to 'neutral' at JPMorgan Cazenove.

The final release of first-quarter UK GDP is at 0930 BST, along with current account data.

Market Movers

FTSE 100 (UKX) 7,318.53 -0.43%
FTSE 250 (MCX) 19,287.55 -0.30%
techMARK (TASX) 3,501.00 -0.25%

FTSE 100 – Risers

easyJet (EZJ) 1,362.00p 1.11%
Reckitt Benckiser Group (RB.) 7,768.00p 1.05%
International Consolidated Airlines Group SA (CDI) (IAG) 613.50p 0.99%
Mediclinic International (MDC) 737.50p 0.55%
Croda International (CRDA) 3,881.00p 0.54%
Convatec Group (CTEC) 316.40p 0.51%
Standard Life (SL.) 396.80p 0.46%
Associated British Foods (ABF) 2,930.00p 0.34%
Johnson Matthey (JMAT) 2,936.00p 0.34%
Land Securities Group (LAND) 1,013.00p 0.30%

FTSE 100 – Fallers

United Utilities Group (UU.) 883.00p -1.73%
Glencore (GLEN) 285.50p -1.69%
Antofagasta (ANTO) 792.00p -1.55%
Fresnillo (FRES) 1,482.00p -1.40%
BP (BP.) 443.65p -1.39%
BHP Billiton (BLT) 1,173.50p -1.35%
Royal Dutch Shell 'B' (RDSB) 2,066.50p -1.34%
Royal Dutch Shell 'A' (RDSA) 2,035.00p -1.29%
Rolls-Royce Holdings (RR.) 886.50p -1.12%
Anglo American (AAL) 1,019.50p -0.92%

FTSE 250 – Risers

Fidelity European Values (FEV) 222.50p 1.32%
GVC Holdings (GVC) 762.00p 1.26%
Daejan Holdings (DJAN) 6,390.00p 1.03%
Scottish Inv Trust (SCIN) 810.50p 0.81%
Smith (DS) (SMDS) 484.40p 0.62%
Auto Trader Group (AUTO) 377.90p 0.61%
Dignity (DTY) 2,445.00p 0.53%
UDG Healthcare Public Limited Company (UDG) 852.00p 0.47%
Meggitt (MGGT) 484.00p 0.46%
Kennedy Wilson Europe Real Estate (KWE) 1,112.00p 0.45%

FTSE 250 – Fallers

Acacia Mining (ACA) 286.00p -5.11%
Greene King (GNK) 663.00p -3.70%
IP Group (IPO) 133.70p -3.47%
Sirius Minerals (SXX) 30.50p -3.17%
Rank Group (RNK) 232.20p -2.31%
Vedanta Resources (VED) 631.00p -2.17%
Petrofac Ltd. (PFC) 438.70p -2.08%
Dixons Carphone (DC.) 283.40p -1.90%
Ferrexpo (FXPO) 197.50p -1.89%
Pennon Group (PNN) 831.00p -1.60%