Leading shares are heading lower for the fifth day in a row after disappointing results from Vodafone, a drop in energy companies after claims of gas price fixing and worse than expected UK inflation figures.
The FTSE 100 has fallen 38.90 points to 5728.37, with Vodafone down 6.15p at 160.45p following news of a £5.9bn writedown on the value of its businesses in Spain and Italy, and a lowering of its full year outlook.
In the wake of news that the City watchdog is investigating claims the wholesale gas market has been manipulated by major energy companies, Centrica is down 9.1p at 310.5p and SSE has lost 20p to £13.75. The companies involved have all denied any wrong doing. Part of the share price fall also seems to be due to a disappointing update from Germany's E.ON, which blamed the weakness in the European economy.
Elsewhere ITV has added 5.25p to 92.05p following a positive trading statement, when it indicated advertising revenue for the year would be broadly flat despite a negative impact from London 2012, broadcaster by rival channels.
Meanwhile inflation in the UK unexpectedly jumped to 2.7% last month.
