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According to Reuters, the index had fallen 2.37 points to 5,356.80 points at 09:10 GMT.
There were jumps of as much as 1.2 per cent for Barclays, Lloyds Banking Group, HSBC, Royal Bank of Scotland and Standard Chartered, while news that crude oil prices had touched a six-week high helped firms such as BP and Tullow Oil to surge.
However, these increases were cancelled out by slumps in defensive stocks.
GlaxoSmithKline shares slid 1.2 per cent, while its pharmaceutical compatriot Shire also edged lower, along with Tesco, Sainsbury's, Morrisons and Diageo.
Joshua Raymond of City Index noted that many investors "may simply be waiting in the wings" for more news to tempt them into trading.
He added that it was "a rather slow morning" for much of the market.
Posted by Clive Arneil
