The FTSE 100 Index ended flat today, down 2.50 points to 5,762 points, after an opening slide on Wall Street wiped afternoon gains.
The index looked on course to end the day slightly higher but US stocks, hit by rising crude prices, edged the market down.
British Airways fell 2.08% to 340.50p after oil prices jumped towards the $74 a barrel level, helped in part by further unrest in Nigeria and continuing concerns in Iran.
Kazakhmys also dropped 0.22% to 1,119.50p, despite metal prices continuing to firm up.
On a more positive note, the rise in oil prices took BP up 0.39% to 636p, while Royal Dutch Shell gained 1.15% to 1,845p.
Aviva advanced 0.55% to 736.50p after Goldman Sachs started coverage with “outperform” advice arguing the life insurer is prepared to walk away if it cannot get the right price for acquisitions.
BHP Billiton rose 1.37% to 1,039p on higher metal prices.
In the US, the Dow Jones Industrial Average has retreated 67.31 points, or 0.6%, to 11,180.56 points after an increase in oil prices and a report showing a slowdown in growth in the services industries raised concern consumer spending and economic expansion will taper off.
Caterpillar has dropped $1.57, or 2.2%, to $71.24 for the biggest decline in the Dow average.
General Motors has lost 39 cents to $26.10 a day before its annual meeting. The Wall Street Journal reported chief executive Rick Wagoner had to convince the board of directors to keep him in his position.
US Steel has fallen $1.83 to $67.68, while Allegheny Technologies, a stainless steel producer, has declined $2.81, or 4.2%, to $64.21.
Freeport-McMoran Copper & Gold has also dropped $1.88 to $54.86 after it cut its forecast of second-quarter copper output in Indonesia by 16%.IFAonline
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