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At 11:54 BST the benchmark index was down 0.7 per cent at 5,099.92 points following dips by mining firms, banks and energy companies, Reuters reports.
Standard Chartered, Lloyds Banking Group, Royal Banking Scotland and Barclays were all down by as much as 1.4 per cent, while BP and Royal Dutch Shell also retreated.
In the mining sector, Antofagasta, Lonmin, Fresnillo, Anglo American and BHP Billiton were among the companies to see their share prices fall, with values dipping by up to 4.4 per cent.
Defence contractor BAE Systems was hit by news that the Serious Fraud Office is to prosecute it for bribery - which could result in it having to pay millions of pounds in fines - however there were gains for building supplies firm Wolseley - which rose 3.5 per cent following an upgrade from Citigroup - and a number of insurance companies.
