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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/snowhit-retailers-see-ftse-drop.jpg"><img class="alignnone size-full" title="The FTSE 100 opened down by 35.2 points to 5978.7" src="http://londonglossy.com/wp-content/uploads/2011/01/min-snowhit-retailers-see-ftse-drop.jpg" alt="The FTSE 100 opened down by 35.2 points to 5978.7"/></a></p>
<p>Retail shares are under the weather after Next and HMV disclosed the financial impact of recent snow disruption on pre-Christmas sales.</p>
<p>Marks &#038; Spencer and Primark owner Associated British Foods dropped 2% as Next said the weather cost it £22 million or 2.2% of sales and music chain HMV reported a 13.6% drop in like-for-like sales in the UK and Ireland.</p>
<p>The retail pressure came during a difficult session for the wider market, with the FTSE 100 Index down by 35.2 points to 5978.7 as investors booked profits following Monday&#8217;s strong start to the year.</p>
<p>Miners were responsible for much of the decline after a reversal of recent gains in commodity prices.</p>
<p>The fallers board was topped by Marks &#038; Spencer, which declined 9.6p to 264.8p, while AB Foods eased 25p to 1139p and B&#038;Q owner Kingfisher declined 5.6p to 261.4p.</p>
<p>The fall in Next shares was limited to a drop of 1p to 2014p after it revealed it remained on track to improve profits in the year to the end of January.</p>
<p>There was no such reprieve for HMV, which slumped 23% after the latest disappointing sales figures fuelled City speculation over the future of the chain.</p>
<p>With the company warning it faced a battle to meet a banking covenant test in April, shares fell 7.75p to 24.75p and left HMV with a market value of just over £100 million.</p>
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