The FTSE100 has given up a strong early start in mid-morning trading, with HBOS continuing to slide below its rights issue level. The blue-chip index is currently just 4.50 points (0.08%) higher to 5625.30.
Pharmaceutical group Shire is leading the way after Goldman Sachs raised its rating to ‘buy’; it is 4.33% ahead to 831.50.
Mining stocks are going well, with Eurasian sitting 2% higher to 1481. The high oil cost is also driving BG Group further ahead, up 1.79% to 1253.00
Property companies are losing the most ground, with Land Securities down 3.66% to 1290 and British Land 3% lower to 743.
More bad news for HBOS as the FSA ended its investigation into short selling of the lender; it is 3.28% lower to 273.
In New York, Wall Street was pounded on Friday as a gloomy banking statement and high crude costs punished US stocks. The Dow Jones IA finished the week 220.40 (1.83) lower to 11842.69.
A Merrill Lynch statement on poor condition of US regional banks stung the financials sector, with Citigroup and Bank of America among the largest losses. Coca Cola was the only stock to climb.
In Tokyo, Japanese stocks continued to slide on Monday as business confidence sank to its lowest level in four years. The Nikkei 225 index was down 84.61 yen (0.61%) to 13,857.47.IFAonline
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till