The OECD has downgraded its outlook for the UK economy, saying Britain will miss out on an early global recovery.
The FTSE has opened flat despite a rally from miners and natural resources companies.
Positive US job figures failed to spur the Dow Jones in early trading on Wednesday.
Lloyds Banking Group is among the fallers in early trading on Wednesday on rumours it is close to securing a deal that will see some of its bad loans insured under the Government's asset insurance scheme.
US stocks pushed ahead in early trading on Tuesday after a report showed a revival in manufacturing activity in August following a year and a half of contraction.
UK blue chip shares fell following the Bank Holiday weekend as investors locked in profits from miners.
US blue chip stocks edged ahead in early exchanges today, echoing gains in stock markets across Europe and Asia.
The UK economy shrank by less than previously forecast between April and June, according to the Office for National Statistics (ONS).
Firmer commodity prices lifted mining stocks and led the FTSE higher on Friday following two sessions of losses.
Lloyds Banking Group is among the early losers on Thursday despite reports it is considering a new form of capital to offer to shareholders in a bid to cut its use of the Government's insurance scheme for toxic assets.