Rolling coverage of the latest economic and financial news

London’s stock market is sliding at the start of trading.

The FTSE 100 index has dropped by 67 points, or 0.65%, to 10,209 points.

IAG are among the top fallers, down 5%, after the airline group warned this morning that profits this year will be lower than expected due to the jump on fuel prices.

Intertek Group have dropped by 6.5% after rejecting a takeover approach.