- IIF warns of 1trn euro damage to Eurozone.- Fresnillo bucks sector trend to rise after results.- Defensives in demand.With just a couple days to go before the Greek debt-swap deadline, investors were in a cautious mood as the Footsie slipped lower in early trading on Tuesday.Europe is awaiting a final decision this week on the Greek debt restructuring. Private investors have a March 8th deadline to decide if they will accept a debt exchange in which they will be required to take a 53.5% haircut in an agreement that would save Athens about €106bn (£88bn).However, the Institute of International Finance (IIF) - the group representing Greece's private creditors - has said that a disorderly Greek default would leave Italy and Spain in need of additional aid, taking the total amount of liabilities over the one trillion euro mark, Reuters reported this morning.In a document obtained by the news agency which was dated February 18th, the IIF said: "there are some very important and damaging ramifications that would result from a disorderly default on Greek government debt...It is difficult to add all these contingent liabilities up with any degree of precision, although it is hard to see how they would not exceed one trillion euros."MINERS PROVIDE A DRAG, BUT FRESNILLO BUCKS TRENDMiners were among the worst performers in the opening hour in London, following yesterday's news that China expects its economy to grow by 7.5% in 2012, set to be the first year of sub-8% growth in eight years. Polymetal, Kazakhmys, Rio Tinto, ENRC, Antofagasta and Evraz were all in the red.Fresnillo, however, bucked the trend after seeing sales rise by more than a half in 2011, helped by a surge in metals prices and an increase in production. Revenue in the 12 months ended December 31st increased by 55.6% from $1,409.6m to $2,192.7m.Meggitt, the engineering company focused on the aerospace, defence and energy markets, fell despite seeing strong growth across all of its markets in 2011. Revenue in 2011 rose by a quarter to £1,455.3m from £1,162.0m in 2010, and roughly in line with market expectations of £1,458.7m. "In short, the 2011 result looks fine, but we harbour some reservations about the long-term outlook," said analysts at Jefferies.Defensives were in demand early on with pharmaceuticals group AstraZeneca, GlaxoSmithKline and Shire among the highest risers, joined by utilities Centrica and National Grid.Shopping centres operator Capital Shopping Centres (CSC) rose after it said one of its subsidiaries has sold 4.0m shares of Equity One, a US real estate investment trust.On the FTSE 250, plant hire group Ashtead jumped after reporting record third quarter pre-tax profit and saying it expects full year profit to be significantly ahead of previous company expectations.Oilfield services firm Wood Group dropped despite seeing profits from continuing operations before tax and exceptionals increase 62.7% to $254.1m, compared with $156.2m the year before. The company says it foresees further growth in upstream, subsea and pipelines in 2012, but says that in downstream, process and industrial, the performance is likely to be flat due to the ongoing weakness in the market in North America.BCFTSE 100 - RisersHargreaves Lansdown (HL.) 452.90p +1.71%Fresnillo (FRES) 1,858.00p +1.42%British Sky Broadcasting Group (BSY) 689.50p +0.95%AstraZeneca (AZN) 2,866.00p +0.88%GlaxoSmithKline (GSK) 1,412.00p +0.57%National Grid (NG.) 652.00p +0.46%Tate & Lyle (TATE) 697.50p +0.36%Petrofac Ltd. (PFC) 1,600.00p +0.31%Shire Plc (SHP) 2,222.00p +0.23%Land Securities Group (LAND) 691.50p 0.00%FTSE 100 - FallersPolymetal International (POLY) 956.50p -5.86%Aviva (AV.) 355.60p -3.21%Kazakhmys (KAZ) 930.00p -2.26%Meggitt (MGGT) 391.70p -2.12%Essar Energy (ESSR) 104.90p -2.05%Weir Group (WEIR) 1,900.00p -2.01%Eurasian Natural Resources Corp. (ENRC) 661.50p -2.00%Prudential (PRU) 706.50p -1.88%Wolseley (WOS) 2,377.00p -1.86%GKN (GKN) 210.10p -1.82%FTSE 250 - RisersCape (CIU) 447.80p +4.29%Ashtead Group (AHT) 265.30p +3.23%AG Barr (BAG) 1,186.00p +1.54%Rank Group (RNK) 137.30p +1.40%African Barrick Gold (ABG) 441.00p +1.29%Misys (MSY) 339.00p +1.19%BH Global Ltd. USD Shares (BHGU) 11.89 +1.19%TR Property Inv Trust Sigma Shares (TRYS) 70.75p +1.00%Inmarsat (ISAT) 472.50p +0.94%BH Global Ltd. GBP Shares (BHGG) 1,205.00p +0.84%FTSE 250 - FallersCable & Wireless Worldwide (CW.) 29.80p -10.94%Centamin (DI) (CEY) 82.20p -4.97%Exillon Energy (EXI) 212.50p -4.37%Kenmare Resources (KMR) 52.75p -3.83%Wood Group (John) (WG.) 739.00p -3.21%New World Resources A Shares (NWR) 497.10p -3.10%Regus (RGU) 103.50p -3.00%Inchcape (INCH) 362.70p -2.76%Shanks Group (SKS) 103.60p -2.63%Intermediate Capital Group (ICP) 268.90p -2.40%