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According to Reuters, the FTSE had climbed 0.5 per cent to a one-month high early on, but since fell to being up 0.13 per cent at 5,359.18 points by 13:15 GMT.
Nick Serff of City Index explained that this was due to the publication of new figures regarding business confidence in the eurozone, which slipped to 95.2 points on the index for February.
He noted that experts had been expecting the figure to be 96.1, following last month's reading of 95.8 points.
The results prompted investors to "add to short positions", Mr Serff remarked, stating that banks have been the biggest losers on the index, with Barclays and Standard Chartered both dipping.
Sterling was also down, falling against the dollar after governor of the Bank of England Mervyn King said that further quantitative easing is a possibility.
Posted by Clive Arneil
