London open: Eurozone GDP figures worry markets early on

Worse-than-expected growth figures from Eurozone powerhouses Germany and France dampened market sentiment in London on Wednesday morning, as stocks pulled back after hitting fresh multiyear highs the day before.The FTSE 100 finished Tuesday's session at 6,686 after nine straight days in positive territory, rising to levels not seen since late 2007. The benchmark index's all-time closing high of 6,930 was recorded in December 1999, a mark which could be surpassed before the end of 2013, according to some analysts.German gross domestic product (GDP) expanded by just 0.1% in the first three months of 2013, rebounding after a 0.7% contraction in the preceding quarter but missing the 0.3% consensus forecast. France however failed to avoid recession, contracting by a further 0.2% after a 0.2% fall in GDP in the fourth quarter of 2012. Expectations were for a lesser 0.1% contraction in the first quarter.GDP figures for the wider Eurozone are due out later this morning and consensus forecasts are for a 0.1% contraction in the first three months of the year, following the 0.6% fall in the fourth quarter."Despite some positive data signals from the Eurozone, such as industrial output released in the prior session, markets have this morning had a reminder that troubles in the Eurozone are far from over," said Market Strategist Ishaq Siddiqi from ETX Capital. "Austerity measures are biting and policy measures have not been enough to kick-start growth. Traders now will speculate over additional measures the European Central Bank could possibly employ, be it more rate-cuts, negative deposit rates or buying asset-backed securities."Nevertheless, he said that it's unlikely the poor growth figures will be enough to trigger a correction in markets as data from the US so far appears to be "reassuring" investors worried about the Federal Reserve tapering off stimulus.FTSE 100: Ex-div stocks provide a dragA number of heavyweight stock went ex-dividend this morning, meaning that investors will not have a chance to tap in to their latest dividend payments. Sage, G4S, Morrison, Polymetal, Sainsbury and Whitbread were all weighing heavily on the FTSE 100 early on.Oil major Shell was also trading lower after going ex-dividend though the stock was likely under additional pressure on reports that authorities raided its offices - along with sector peer BP - in relation to a probe into alleged manipulation of oil prices over the last decade.Utilities group Severn Trent was pulling back after yesterday's 14% jump on the back of an approach by a consortium of foreign investors. The group said today that a proposal tabled by the potential bidders came at only a "modest premium" to Monday's share price and was rejected by the board.Broadcaster ITV was a heavy faller this morning despite a seemingly solid first-quarter statement in which it outperformed the TV ad market in the first quarter. Markets however appear to be focusing on the company's cautious outlook for the rest of the year.Heading the other way was budget airline easyJet after narrowing its half-year losses as it took initiatives to boost revenues and cut costs.Real estate group Land Securities rose after saying that its annual net asset value per share rose 4.1% as it signed new development lettings.Contract caterer Compass was also higher after lifting its half-year revenue by 4.1% after a strong North American and emerging markets performance.FTSE 100 - RiserseasyJet (EZJ) 1,197.00p +5.93%Land Securities Group (LAND) 959.00p +2.62%London Stock Exchange Group (LSE) 1,370.00p +2.62%Compass Group (CPG) 891.50p +2.47%TUI Travel (TT.) 354.50p +2.10%William Hill (WMH) 436.60p +1.68%Tullow Oil (TLW) 1,052.00p +1.25%Marks & Spencer Group (MKS) 425.70p +1.21%Intertek Group (ITRK) 3,451.00p +1.14%British Land Co (BLND) 627.00p +1.13%FTSE 100 - FallersPolymetal International (POLY) 679.00p -4.63%Morrison (Wm) Supermarkets (MRW) 282.00p -3.39%ITV (ITV) 127.80p -2.96%Sainsbury (J) (SBRY) 379.30p -2.82%Wood Group (John) (WG.) 806.00p -2.48%G4S (GFS) 252.80p -2.36%Randgold Resources Ltd. (RRS) 4,882.00p -2.14%Royal Dutch Shell 'A' (RDSA) 2,241.50p -1.75%Sage Group (SGE) 351.10p -1.65%Royal Dutch Shell 'B' (RDSB) 2,319.50p -1.53%FTSE 250 - RisersKeller Group (KLR) 949.00p +9.46%Restaurant Group (RTN) 507.50p +4.45%Enterprise Inns (ETI) 103.00p +4.04%New World Resources A Shares (NWR) 137.60p +2.08%Balfour Beatty (BBY) 227.20p +2.02%Carpetright (CPR) 637.50p +1.92%Perform Group (PER) 560.00p +1.91%Redrow (RDW) 219.00p +1.91%Rank Group (RNK) 160.00p +1.91%Persimmon (PSN) 1,118.00p +1.82%FTSE 250 - FallersCarillion (CLLN) 258.90p -3.75%Inmarsat (ISAT) 675.50p -3.50%Vesuvius (VSVS) 363.80p -2.54%Dunelm Group (DNLM) 817.92p -2.10%Computacenter (CCC) 445.70p -1.81%Premier Oil (PMO) 387.70p -1.42%Kazakhmys (KAZ) 363.20p -1.25%ICAP (IAP) 335.50p -1.24%Tullett Prebon (TLPR) 277.70p -1.17%TalkTalk Telecom Group (TALK) 222.50p -1.11%