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Reuters reports the FTSE 100 was down 0.1 per cent at 09:24 BST at 5,204.94 points, after it ended 1.7 per cent lower yesterday.
BG Group was the biggest riser, with traders acting on a Daily Mail report highlighting the possibility of a takeover bid by Royal Dutch Shell.
The index is currently trading within a sideways range between support at 5,200 points and resistance at 5,276 points, according to Raghee Horner, chief market analyst at Autochartist, although she believes a move upwards is likely if it stays above the former.
"If the current range is to remain intact going into the weekend, the FTSE will have to rally higher and retrace the dramatic move lower from 5,336 points to 5,205 points seen on Thursday," she added.
Yesterday's slide brought the index to its lowest close since July 20th, following the release of US reports showing negative manufacturing and employment data.
Posted by Greg Secker
