The FTSE 100 was trading down 0.4 per cent at 6,803 within the opening hour.

London stocks were also tracking declines seen on Wall Street on Tuesday after a high-anticipated product launch from tech giant Apple underwhelmed US investors.

The company unveiled two new versions of its iPhone as well as its first wearable watch device and a new contactless payment system, though these were widely expected by the market, causing the shares to finish in the red by the close. Apple’s stock has still risen by over 22 per cent since the start of 2014 and is close to a record high.

Markets were awaiting a Bank of England inflation report hearing on Wednesday. Four members of the Monetary Policy Committee (MPC) will sit down before the Treasury Committee and answer questions on its inflation report, providing an opportunity for the market to glean more concrete guidance on monetary policy.

Speculation surrounding the outcome from another opinion poll on Scottish independence was also keeping UK investors nervous. Results from a recent Indyref pooll are set to be announced and come just a few days after a Yougov poll revealed that ‘yes’ campaigners had marginally won more support ahead of the 18 September referendum.

Ex-div stock, Sports Direct and LSE fall

Admiral was a heavy faller in early deals after going ex-dividend. Other stocks trading without access to their latest dividend payments included AL Noor Hospitals Group, Berendsen, Bwin.party Digital Entertainment, G4S, Savills, Standard Life, Land Securities, Hargreaves Lansdown, Restaurant Groupand Rank Group.

Sports retailer Sports Direct slumped after revealing details of how England’s disappointing performance at the World Cup affected sales. Group sales were up 12.2% in its fiscal first quarter, as 16.3 per cent growth in the largest sports retail business was partly offset by declines in the premium lifestyle and brands divisions.

The London Stock Exchange edged lower after saying that trends have been broadly unchanged since its trading update on 22 August.

Heading the other way was B&Q and Brico Depot owner Kingfisher after replacing its chief executive as it reported flat profits due to currency volatility, although it said the buoyant UK housing market had lifted demand for DIY products.

Along with an impressive set of final results, housebuilder Barratt Developments pledged to return almost £1bn to shareholders over the next three years via special dividends, helping the stock higher.

Market Movers
techMARK 2,846.54 -0.68%
FTSE 100 6,803.15 -0.38%
FTSE 250 15,683.77 -0.65%

FTSE 100 – Risers
Kingfisher (KGF) 315.00p +2.54%
Randgold Resources Ltd. (RRS) 4,753.00p +0.76%
Fresnillo (FRES) 849.00p +0.53%
Rio Tinto (RIO) 3,240.00p +0.50%
Weir Group (WEIR) 2,694.00p +0.45%
Royal Dutch Shell ‘B’ (RDSB) 2,514.50p +0.40%
Associated British Foods (ABF) 2,710.00p +0.37%
Barratt Developments (BDEV) 368.20p +0.30%
British Land Co (BLND) 721.00p +0.28%
BHP Billiton (BLT) 1,877.00p +0.27%

FTSE 100 – Fallers
Admiral Group (ADM) 1,238.00p -4.33%
Sports Direct International (SPD) 695.00p -3.47%
Hargreaves Lansdown (HL.) 1,004.00p -2.81%
ARM Holdings (ARM) 949.50p -2.37%
Burberry Group (BRBY) 1,492.00p -1.78%
G4S (GFS) 257.90p -1.75%
Carnival (CCL) 2,356.00p -1.55%
Ashtead Group (AHT) 1,001.00p -1.48%
Standard Life (SL.) 402.20p -1.47%
Mondi (MNDI) 1,042.00p -1.42%

Source: ShareCast