The FTSE is down over a percentage point in afternoon trading with better-than-expected growth figures failing to lift investors as concerns over the banking sector weigh on sentiment.
The FTSE 100 rose 0.9% to 5,791.10 in early morning trading as a weaker US dollar provided support for mining stocks.
The FTSE 100 remains marginally in the red this afternoon, with miners dragging on the index.
The FTSE 100 rose 0.5% to 5,757.22 in early trading, despite negative company announcements across various sectors.
The FTSE continued to feed off global optimism in early trading on Thursday, extending yesterday's 1.5% gain.
The FTSE climbed 1.1% this morning to 5,724.37 after rumours of more quantitative easing from the Federal Reserve gained momentum last night.
Miners relinquished some of yesterday's gains in early trading on Thursday, pulling the FTSE more than 20 points lower to 5,659.
The FTSE rose 0.70% this morning after the Dow Jones closed last night 1.80% higher.
Global markets have rallied on the back of Japan's cut in interest rates, with the FTSE and Dow both up over one percentage point.
Wall Street saw its strongest September since 1939 despite lingering concerns over US economic growth.