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At 11:55 GMT the index was down 0.5 per cent on 5,297 points, Reuters reports, with falling commodity prices causing slides in the stock prices of many mining companies.
Eurasian Natural Resources, Fresnillo, Vedanta Resources, Rio Tinto, Xstrata and NHP Billiton were all down by between 0.7 per cent and three per cent.
News of a potential windfall tax caused worry in the financial sector, resulting in drops of as much as 3.3 per cent being recorded by HSBC, Lloyds Banking Group, Royal Bank of Scotland and Standard Chartered.
The morning trading session was described as "fairly lacklustre" by market strategist for Joshua Raymond, who added that a lot of investors have taken profits at the "top end of the market" following last week's rally.
Posted by Clive Arneil
