Oilfield services firm Petrofac was leading the fallers on the Footsie on Monday afternoon despite reporting a strong first half as investors turned cautious on the pace of growth going forward
Earnings per share were up 32% to 94.8c, with pre-tax profits rising to $412.5m, from $300m the year before.
"Even though earnings per share beat, the market hasn't been told anything positive it didn't already know. Some analysts are citing the number of delayed contracts awarded in Onshore Engineering and Construction as a reason to temper FY'13 outlook," said trader David White from SpreadEX.
Mining peers Vedanta, Kazakhmys and Polymetal were also out of favour over concerns about the global economy after Japanese growth came in much worse than expected in the second quarter. Oil giant BP was slightly lower after announcing the sale of its Sunray and Hemphill gas processing plants in Texas for $227.5m.
Meanwhile, Costa owner Whitbread was unwanted after Deutsche Bank downgraded its rating on the stock to 'hold'.
Heading the other way was under-fire banking group Standard Chartered as it continues to recover from its recent sell-off. The lender is now in talk with with New York state regulators over how much a settlement would cost. Sector peer Lloyds also edged higher.
FTSE 100 - Risers
Glencore International (GLEN) 347.70p +0.93%
Lloyds Banking Group (LLOY) 31.63p +0.81%
Schroders (SDR) 1,415.00p +0.57%
Sainsbury (J) (SBRY) 325.00p +0.53%
Tesco (TSCO) 329.10p +0.53%
Land Securities Group (LAND) 802.00p +0.50%
British Sky Broadcasting Group (BSY) 751.00p +0.47%
Datafeed and UK data supplied by NETbuilder and Interactive Data.
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