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LONDON -- Yesterday's pause in the FTSE 100's (FTSEINDICES: ^FTSE ) recent slide didn't last long, and the U.K.'s major index has fallen another 80 points by 8:25 a.m. EDT today to 6,251.
It seems like only yesterday that pundits were wondering when we'd see the FTSE break the 7,000 level, but it's looking more likely to fall back through 6,000 at this rate.
But which individual shares are leading the market down? Here are three names that are underperforming and look set to lag the FTSE today.
Home Retail (NYSE: HOME )
Home Retail shares have been on a strong recovery since last summer, but they took a knock today after a quarterly update told us the company's Homebase DIY chain had been adversely affected by the variable weather. Although sales rose 0.2%, with like-for-likes up 1.4%, the performance was a little behind expectations.
The group's Argos chain had a better quarter, with total sales up 1.2% and like-for-like sales up 1.9% -- and that's after shop closures had reduced sales by 0.7%.
Following the update, Home Retail's shares dropped 9.4% to 130.5 pence -- but they're still up about 85% over the past 12 months.
Mulberry (LSE: MUL )
The market was disappointed by annual results from Mulberry Group this morning, sending the share price down 1.4% to 935 pence. However, the figures were mostly bang in line with the guidance posted on March 22: Revenue was down 2% to £165 million, and pre-tax profit dropped 28% to £26 million.
But basic earnings per share, at 32.2 pence, came in slightly below market expectations, and the full-year dividend of 5 pence per share was about a penny less than forecast. The Mulberry share price is now down more than 50% over the past 12 months.
WH Smith (LSE: SMWH )
WH Smith shares have fallen 2.2% on the release of a third-quarter update. Total sales fell 5% compared with the same period last year, with like-for-like sales down 6%.
But we were told that WH Smith's financial position was "in line with market expectations" and that the firm's share buyback program was going well, with 5 million shares purchased and £34 million returned to shareholders. Overall, the share price has been going strongly: Even after recent falls, it's up more than 50% over the past 12 months.
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