The FTSE 100 Index has lost 22 points, or 0.4%, to 5,796 points this morning, led by Lloyds TSB.
Lloyds TSB, Britain's fifth-largest bank by market value, has fallen 8p, or 1.5%, to 513p.
BHP Billiton has lost 14p, or 1.4%, to 984p, Rio Tinto has declined 2.55% to 2,680p and Vedanta Resources has fallen 2.23% to 1,226p.
British Airways has risen 2.71% to 388.50p after UBS issued a bullish note, lifting its price target to 500p from 420p.
In Japan, the Nikkei 225 Stock Average advanced 191.93 points, or 1.2%, to 15,656.59 points after machinery orders surged unexpectedly in June.
Fanuc advanced 60 yen, or 0.7%, to 9,350, Kyocera jumped 180 yen, or 1.9%, to 9,490 and Nidec rose 50 yen, or 0.7%, to 7,780.
Banks also jumped on speculation they will benefit as increasing spending will boost corporate demand for loans.
Mitsubishi UFJ climbed 40,000 yen, or 2.6%, to 1.59m and Mizuho Financial Group rose 15,000 yen, or 1.6%, to 938,000.
In the US, the Dow Jones industrial average fell 45.79 points, or 0.41%, to end at 11,173.59 points yesterday, as investors worried slowing economic growth would hurt corporate profits, despite a pause in the Federal Reserve's two-year campaign of raising interest rates.
Caterpillar dropped 2.2%, or $1.58, to $71.60 and Boeing fell 2.01%, or $1.60, to $78.15.
United Technologies slid 1.9%, or $1.21, to $61.88 while 3M fell 0.6%, or 44 cents, to $68.56.IFAonline
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