At the close of business, the FTSE100 was down 23.31 points at 5,617.26 with the FTSE250 off 10.85 points at 9,854.44 and the FTSE Smallcaps 10.84 points higher at 2,872.26.

NEW YORK

US stocks were slightly lower in late morning trade, hit by disappointing jobs data and concerns over inflation in China, but losses pared by better-than-expected trade statistics.

Approaching the close in London, the Dow Jones Industrial Average was down 6 points at 10,561, the S&P500 lost a point at 1,144 and the Nasdaq Composite fell a point at 2,357.

LONDON MARKETS

Retailers took centre stage in London today, with Argos and Homebase owner Home Retail Group making good ground after a well-received update, the shares gaining 4.2p at 272p. Home Retail said benchmark profit before tax for the year will be around £290m, slightly ahead of current market expectations.

DIY rival Kingfisher, which owns B&Q, added 7p at 223.7p and midcap owner of the Wickes chain, Travis Perkins, rose 8.5p at 730p on the read across.

Conversely, supermarket operator William Morrison sank 8.5p at 295.7p after a cautious outlook accompanied news of turnover up 6% to £15.4bn in the year to end-January, with profit before tax at £858m compared to £655m the previous year. Total dividend for the year rose 41% to 8.2p. Peer Tesco slipped 1.35p at 436.85p and Sainsbury fell 0.5p at 335.7p, while Marks & Spencer gained 4.6p at 353.7p.

Fashion retailer Next outperformed, 42p higher at 2,020p.