(MENAFN- ProactiveInvestors) UK shares were heading lower at the midday point with oil stocks taking the brunt of selling.
FTSE100 was over 54 points lower at 6669 with Tullow () the biggest laggard down 5.63%. Big cap miner () was also lower - 2.97%.
Weighing was the continuing story of lower cude prices and data from China which showed manufacturing stats fell to an eight month low in November.
Meanwhile Eurozone data was unexpectedly revised to 50.1 from an initial reading of 50.4 with German factory output declining.
Tullow was hot with a downgrade from broker heavyweight JP Morgan Cazenove which also cut its share price target in half down from 1000p to 495p.
JP Morgan said the turn on strategy (from exploration led to development led) resets the firm’s valuation bar.
Meanwhile mobile phone giant () was a notable loser as the week began after reports at the weekend said the firm had held talks with retailer () about buying its loss-making pay-TV service Blinkbox.
The big winner was () climbed higher after full-year results showed pre-tax profits edged up to £490mln slightly higher than last year.
Shares were up almost 4%.
The buiggest riser in London was () which added almost 33% as a final report concerning the first stage of its definitive mining feasibility study for the Rukwa coal-to-power project (RCPP) has been completed.
The report for the project in Tanzania confirmed that anticipated margin per tonne and overall estimated profitability of the coal mining element of the RCPP are significantly ahead of the company's earlier expectations.
Elsewhere () shares climbed in early deals before falling back as it unveiled further encouraging results which explain the geology of the Cascabel copper target in more detail.
() added 1.40% as it revealed it made a major breakthrough by successfully delivering significant levels of messenger RNA (mRNA) into target cells.
Messenger RNAs are molecules that convey genetic information from DNA in a cell's nucleus to the ribosomes in the cell to specify the type of protein that should be expressed.
() added amost 9% as the industrial fuel cell power company appointed a new chief executive officer.
Coal developer Beacon Hill () dropped 50% as it it put out an update on its financing arrangements.
() edged a tad lower as it ended its interest in smaller oil and gas group Petroceltic () citing market conditions sending Petroceltic shares plummeting over 36%.
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