//
The FTSEurofirst 300 index was down 0.05 per cent to 831.28 points at 10:10 BST, Reuters reports, with ENI, Royal Dutch Shell and Total declining by between 1.4 and 2.3 per cent.
However, strong performances from banks and financial institutions helped the market to remain largely unchanged, with UBS rising 4.7 per cent and Barclays adding 6.3 per cent.
Market strategist Joshua Raymond explained that financial and mining stocks - which have dropped in value by approximately 12 per cent over the past week - are proving popular with investors looking to buy at the bottom of the market.
"The battle between momentum of optimism and consolidation continues today with the markets trading between gains and losses in a directionless opening session," he remarked, adding that constantly changing sentiment is "clouding" the direction of trading.
