Morning Markets: Broker notes weigh heavy on FTSE

Broker downgrades and companies going ex-dividend pulled the FTSE index 25 points, or 0.4% lower this morning.

The main London index traded at 5,755.5 shortly before 9am. Prudential dropped 15p, or 2.6% to 562p, while Pearson shed 21p, or 2% to reach £10.29 after each went ex-dividend. British Land, which also went ex-dividend and was downgraded by UBS, shed 2.1% of its value to 479.9p. Rivals Hammerson and Land Securities, however, each received new buy recommendations from UBS. This sent Land Securities up 2.8% to 701p, on top of its 4% gain yesterday. Hammerson rose by 2.1% to 405.7p. Meanwhile, an upgrade to buy from Citi boosted Next, rising 1.5% to £22.43 Man Group rose furth...