FTSE down in early trading

Retail stocks saw a second day of turbulence today as sentiment remained weak in the aftermath of yesterday’s dividend cut from Marks & Spencer.

Argos owner Homebase was the sector’s biggest faller in the top flight, down 10.75p to 241p, while M&S lost another 10p to 301.75p and Currys owner DSG International slipped 3.5p to 24.25p in the second tier.