Retailers weigh as FTSE edges lower London's FTSE 100 opened fractionally lower on Thursday, as gains for resource stocks were offset by lingering concerns over unresolved US budget talks. Miners and producers of metals and other raw materials were higher as copper prices rose to a week high, while iron ore prices hit an eight month high, thanks in part to expectations of a revival in Chinese demand. Data on Thursday showed that profits at Chinese industrial companies rose for a third consecutive month in November. Russian steelmaker Evraz gained 3.5 per cent to 263.1p, while Kazakh copper miners Eurasian Natural Resources and Kazakhmys gained 2 per cent to 284.9p and 1.2 per cent to 779.5p respectively. Chilean copper miner Antofagasta rose 1.4 per cent to £13.54. Mining and resource heavyweights Rio Tinto and BHP Billiton climbed 1.4 per cent to £35.59 and 1.1 per cent to £21.61. The FTSE 100, however, started the session 4 points or 0.1 per cent lower at 5,950.35, weighed down by losses for a number of index heavyweights. Retail-facing stocks were lower after the British Retail Consortium said high street spending in the run-up to Christmas had been "acceptable, but not exceptional." Among them, alcoholic drinks maker Diageo lost 1.7 per cent to £17.97, while consumer products groups Reckitt Benckiser and Unilever both lost 1.3 per cent to £38.93 and £23.89 respectively. Grocery retailer Tesco fell 1.1 per cent to 335.1p while clothing retailer Burberry lost 1 per cent to £12.27. Financial stocks were also weaker, with insurer Prudential down 1.1 per cent to 865p and Standard Chartered, the bank, lost 1.1 per cent to £15.63.