London equities markets suffered small losses in opening trade on Tuesday, hampered by weaker oil stocks as crude prices slipped below $59 a barrel, but insurance stocks were stronger after news of a strong third quarter at Friends Provident.

The FTSE 100 started the day 0.1 per cent lower at 6.118.8, a decline of 8 points. The mid-cap FTSE 250 also fell 0.1 per cent to 10,304.6 after Arm Holdings missed third-quarter revenue forecasts, pressuring fellow computer chip makers .

Overnight in New York, the Dow Jones Industrial Average closed flat at 12,086.5 after weaker-than-forecast sales at Wal-Mart brought retailers lower and wiped out intraday gains.

Back in London, electrical retailer DSG International fell 1.1 per cent to 216.3p after analysts at Deutsche Bank cut their rating on the shares to "hold" from "buy".

Imperial Tobacco fell 0.4 per cent to £18.31 after the company raised the prospect of further capital expenditure, saying it was still on the look-out for acquisitions.

Oil majors once more exerted the most pressure on the index, as crude prices continued to move away from the $59 mark. BP fell 0.6 per cent to 588p, with Royal Dutch Shell 0.4 per cent weaker at £18.78.

On the upside, Friends Provident rose 3.2 per cent to 200.2p after its third-quarter new business numbers were warmly received. The insurer reported a 34 per cent rise in the value of premiums signed in the UK and a 51 per cent rise in new business from its international operations.

Lower down the market, Arm Holdings lost 2.1 per cent to 107p after third-quarter revenues suffered from a weakening dollar. The chipmaker said it expected trading in the fourth quarter to meet expectations.

Bread maker RHM, the company behind the Hovis brand, rose 3 per cent to 271¼p after it revealed higher wheat prices had less impact on its bottom line than feared.

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