The FTSE100 is currently down 32 points at 5691.8 with the FTSE250 down 82.5 points at 9,215.7 and the FTSE Smallcaps down 4.7 points lat 3,419.

Volume so far is weak with 302.3 million shares changing hands in 57,442 deals.


Meanwhile, Wall Street ended Wednesday on a high. The S&P500 had its worst May in 22 years in a market plagued by worries over inflation, slowing economic growth, uncertainty over the outlook for interest rates and the growing prospect of an attack on Iran by the US.


Overnight in Asia, Japan's Nikkei closed up 36.41 points at 15,503.74 recovering slightly from yesterday. Hong Kong's Hang Seng ended early trading down 16.69 points at 15,841.20.


Oil prices were stronger this morning as the US concerns over Iran's nuclear ambitions came to the fore again, despite a US offer of ‘conditional’ but direct talks with Tehran.
New York's main contract, light sweet crude for July delivery was up five cents at $71.34 a barrel from its close of $71.29 in the US yesterday.


Today’s look at individual Stocks:


It was once again the turn of the miners to drag the FTSE100 lower. BHP Billiton is currently down 23.5p to 1,026.5p, Rio Tinto is down 49p to 2,914p, Anglo American is down 40p to 2,114p and last but not least Antofagasta is down 29p at 2,056p.


United Utilities is currently down 8p to 652.5p after it said a strong performance from its utility operations had helped it report a 12% rise in annual operating profit on continuing operations to £766 million.


Johnson Matthey was another victim of profit taking this morning, down 17p at 1,332p, as it gave an upbeat view of its outlook for the next few years after it delivered an 8% rise in earnings, driven by strong platinum prices and orders from Asia.


Man Group is the FTSE100's star performer today up 94p at 2,433p.


The financial group posted profits for the year to the end of March at the top of market forecasts, and Credit Suisse subsequently raised its target price to 2,800p from 2,670p.


The rest of the financial sector remains strong today following yesterday's gains, Barclays is up 5p to 623p, Lloyds is up 6p at 509.5p, and RBOS is currently up 14p at 1,738p.


Shares in steel giant Corus Group gained more than 2% this morning after the Russian billionaire Roman Abramovich showed an interest in buying a stake in the company. Corus shares are currently trading 8p higher at 399p.


Invest my £1000


The money (£1000) has now been received from Keith. The Footsieblog shall announce shortly which stock has been bought and the reasons behind buying this particular stock in the quest to double or even treble Keith’s money.


The Portfolio:


Wolfson (WLF) - The stock is currently up 0.44% at 452.00p


Point to note:



The overall market still remains very volatile and old lady rumours are flying around this morning that overall market conditions could get worse before they get better. The FTSE is still expected to drop lower this coming summer.