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At 12:10 BST the benchmark index was 0.1 per cent - or 5.98 points - lower at 4884.60, led by falls in the banking sector, Reuters reports.
Lloyds Banking Group, Standard Chartered and HSBC were all down by as much as 2.6 per cent, however Barclays rose after it was upgraded by Bruyette & Woods.
Market strategist Joshua Raymond described trading as "muted", noting that earnings announcements from Kazakhmys, Amec and Diageo had "dominated" proceedings.
The majority of companies in the mining sector - with the exception of Kazakhmys which rose 3.8 per cent - saw their share price retreat, prompting some investors to go "bargain hunting" among the lower stocks.
However, oil majors rose as the price of the commodity stabilised and there were gains for pharmaceutical businesses and utility firms.
