FTSE 100 OPEN: Lloyds Group leads the fallers after yesterday’s losses

Lloyds Group suffered the largest share price decline at the open, following yesterday’s news that it had suffered losses of £516m in 2011.

The insurance group’s share price immediately fell 0.89% as the markets opened, down to 34.13p. High street chain Marks & Spencer suffered similar declines but with a 0.88% drop taking the share price to 380.80p.

Shares in engineering group GKN fell by 0.82% to 205.40p while Weir Group and Prudential fell by 0.80% and 0.72%, respectively.

Mining company Polymet demonstrated the strongest opening performance, up 1.57% to 939.50p a share. Steel manufacturer Evraz was close behind as shares jumped by 1.44% to reach 365.00p.

Having recently announced its plans to sell off its diamond business, shares in mining giant Rio Tinto continued to climb and were up 1.16% to reach 3,354.50p at the open.

Shares in Imperial Tobacco Group rose 0.91% to 2,543.00p and the share price of Fresnillo was up 0.62% to reach 1,619.00p.