Blue chip stocks fell this morning on fears that data will show US economic growth slowed in the second quarter.
The FTSE 100 was down 0.18% to 5,146.44 points led by Tullow Oil and BP losing 3.44% and 2.17% respectively.
This follows yesterday's gains on the index, when a commodity rally resulted in the FTSE closing 0.9% higher.
A Washington report released later today is expected to show economic growth in the US slowed to 1.4% in the second quarter. Last month it was forecast to be around 2.4%.
Making gains in the FTSE this morning were Experian, up 1.78%, and National Grid, up 1.30%. Transpower, National Grid's operator, recently announced it expects to restart paying dividends in the 2012/13 financial year.
In Europe, the Stoxx Europe 600 Index also declined 0.1%, which means the market could be heading for its third week of declines.
The Dow Jones shed 0.74% yesterday ahead of today's GDP release. Markets are also aware of a speech to be given by Federal Reserve Chairman Ben Bernanke today in which he is expected to discuss the uncertain outlook for the economy.
It was a different story for Asian indices, which saw gains overnight. The MSCI Asia Pacific index grew by 0.3%, reversing earlier losses of 0.4%, following the Japanese Government's announcement it would take measures to curb the strengthening yen.
Japan's Nikkei 225 also rose 1%.
