FTSE sags, earnings outlook in focus

LONDON Oct 8 (Reuters) - Britain's top share index fell early on Monday, exhibiting weakness after gains in the previous session and overnight falls in Asia, with some caution building among investors ahead of the start of the new earnings season.

By 0705 GMT, the FTSE 100 was down 40.75 points, or 0.7 percent, at 5,830.27, erasing Friday's gains with concerns over the third-quarter earnings season, which begins in earnest in the United States on Tuesday, mounting after a batch of downbeat updates.

Cookson Group , which makes products for the global steel industry, and recruiter Michael Page on Monday became the latest UK firms to issue profit warnings.

Cookson fell 14.4 percent, while Michael Page shed 5.4 percent in early deals.

(Reporting by David Brett; editing by Simon Jessop)

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