FTSE mired near 2-mth low as economy gloom weighs
* FTSE 100 down 0.6 percent
* Energy stocks weighed by falling oil prices
* Miners dented by softer metals
By Simon Falush
LONDON, July 10 (Reuters) - More gloom on prospects for the global economy, sparked by weak U.S. corporate results depressed commodity prices, knocking energy stocks and dragging Britain's top share index down 0.6 percent early on Friday.
By 0802 GMT the FTSE 100 .FTSE was down 24.02 points at 4,134.64 after it closed 18.43 points higher on Thursday at 4,158.66. The index is on track for its lowest close since late April down 2.4 percent this week, set for its fourth consecutive week in negative territory.
Energy stocks took the most points off the index as oil prices slid below $60 per barrel, on track for its largest weekly fall since January CLc1 as the demand outlook soured and on fears of new rules to curb futures speculation.
BP (BP.L), Royal Dutch Shell (RDSa.L), BG Group (BG.L), Tullow Oil (TLW.L) and Cairn Energy (CNE.L) fell between 0.3 and 1.3 percent.
A downbeat earnings outlook from U.S. oil major Chevron Corp (CVX.N) also dented sentiment on the sector and the wider economy.
Miners were hobbled by weaker metal prices, with Rio Tinto (RIO.L), Kazakhmys (KAZ.L), Eurasian Natural Resources (ENRC.L), Anglo American (AAL.L), Lonmin (LMI.L) and BHP Billiton (BLT.L) falling between 0.5 and 2.6 percent.
Anglo American has appointed veteran industrialist John Parker as its new chairman on Friday replacing Mark Moody-Stuart who will retire after seven years at the helm. [ID:nLA342519] Parker will retain his post as chairman of British energy provider National Grid Plc (NG.L).
"Miners are drifting lower and overall sentiment is pretty negative," said Manus Cranny, head of sales at MF Global.
On the macro front, June UK PPI data due at 0830 GMT will be watched for more evidence that the economy may be starting to pick up.
PPI input data is seen up 0.8 percent on the month, after a 0.4 percent increase in May, giving a year-on-year decrease of 12.2 percent, after a 9.4 percent decline in the previous month.
U.S. May international trade numbers and the first reading for July of the University of Michigan consumer sentiment index will be a focus later in the session.
But overall trade has been thin after a sharp bounce since early March has begun to reverse over the last month.
"Investors who made some money during the upturn in March, April and May are now reluctant to get back into the market and risk those gains," said Arifa Sheikh-Usmani.
"Volumes in equities have all but dried up which adds to investors reluctance to get back in to the market at the present time."
Among stocks in positive territory, publishing group Pearson (PSON.L) added 1.8 percent after Credit Suisse upgraded it to "outperform" from "neutral" and property developer Liberty International (LII.L) gained 1.1 percent after UBS upgraded it to "neutral" from "sell". (Reporting by Simon Falush; editing by Mike Nesbit)
