London open: Stocks slip on mixed earnings, Fresnillo and L&G drop

UK stocks edged lower on Wednesday morning as gains from Standard Chartered and ITV were offset by declines by Fresnillo, Glencore and Legal & General, as investors awaited a barrage of economic data.Following a brief spell in positive territory, the FTSE 100 had fallen 0.2% to 6,875.90 after the first hour of trade. It has not closed below this level since 16 February.The HSBC China services purchasing managers' index (PMI) improved to 52 in February from a six-month low of 51.8 the month before, showing that activity growth in the sector had picked up last month.Services PMIs are also due out in the Eurozone, UK and US later on Monday, along with Eurozone retail sales, US mortgage applications and the ADP US employment report.Central bank decisions in the UK and Europe on Thursday were also likely keeping investors cautious, along with the all-important US non-farm payrolls report on Friday.StanChart and ITV jump, Fresnillo slumpsEmerging markets-focused lender Standard Chartered rose over 5% despite announcing that pre-tax profits in 2014 dropped 25% to $5.2bn. Operating income was also 2% lower at $18.23bn after a "tough year", according to chief executive Peter Sands.ITV was also up 4% after the strongest advertising performance in five years helped the broadcaster and producer beat forecasts for 2014, as it hiked its annual dividend 34% and proposed an extra payout for shareholders.Heading the other way was Mexican precious metals producer Fresnillo which sank 4% after the company said profits plunged 40% to $251.1m in 2014 as record silver production was offset by lower prices and higher production costs.Sector peer Glencore also fell with traders linking the fall to a placing of 53.7m shares by Deutsche Bank priced at 282.45p each, compared with Tuesday's close of 291.2p.Annual results from insurance, savings and investment group Legal & General received a frosty reception from the market as pre-tax profits rose a less-than-expected 9% to £922m.Afren's stock tumbled 17.5% the struggling oil group said it will default on $15m of interest payments and that shareholders could by "substantially" diluted as part of a possible restructuring. Market MoverstechMARK 3,135.05 -0.11%FTSE 100 6,875.90 -0.19%FTSE 250 17,083.46 -0.36%FTSE 100 - RisersStandard Chartered (STAN) 1,026.50p +5.37%ITV (ITV) 231.10p +4.19%Tullow Oil (TLW) 373.40p +2.36%Royal Mail (RMG) 428.10p +1.86%Weir Group (WEIR) 1,715.00p +1.42%easyJet (EZJ) 1,717.00p +0.94%Royal Dutch Shell 'B' (RDSB) 2,159.50p +0.72%Centrica (CNA) 249.10p +0.65%Rolls-Royce Holdings (RR.) 942.00p +0.53%BG Group (BG.) 938.90p +0.47%FTSE 100 - FallersFresnillo (FRES) 760.00p -3.98%TUI AG Reg Shs (DI) (TUI) 1,103.00p -3.25%Legal & General Group (LGEN) 270.70p -2.70%Hargreaves Lansdown (HL.) 1,143.00p -2.39%Glencore (GLEN) 285.05p -2.11%CRH (CRH) 1,736.00p -1.92%Imperial Tobacco Group (IMT) 3,155.00p -1.31%Pearson (PSON) 1,396.00p -1.27%Direct Line Insurance Group (DLG) 324.40p -1.22%Burberry Group (BRBY) 1,825.00p -1.19%FTSE 250 - RisersPayPoint (PAY) 850.50p +2.78%Premier Oil (PMO) 160.00p +2.50%Hunting (HTG) 499.40p +2.25%Alent (ALNT) 375.90p +1.79%Dignity (DTY) 1,955.00p +1.77%Cairn Energy (CNE) 199.10p +1.69%Tullett Prebon (TLPR) 340.50p +1.64%Supergroup (SGP) 974.00p +1.56%Soco International (SIA) 276.50p +1.51%CLS Holdings (CLI) 1,705.00p +1.49%FTSE 250 - FallersAfren (AFR) 7.50p -17.54%Melrose Industries (MRO) 281.10p -5.23%Thomas Cook Group (TCG) 118.60p -3.81%Rotork (ROR) 2,535.00p -2.50%Regus (RGU) 216.40p -2.43%Bovis Homes Group (BVS) 960.00p -2.39%Smith (DS) (SMDS) 359.10p -2.13%National Express Group (NEX) 282.90p -2.04%BBA Aviation (BBA) 336.60p -1.87%Essentra (ESNT) 972.50p -1.82%