The benchmark FTSE 100 has lost about 33 points to 4,450 after mortgage lenders led UK shares down.
Northern Rock lost 15.5p to 728.5p.
HBOS fell 10.5p to 708.5p after UBS AG cut its 12-month share price forecast by 6.5% to 860 pence.
British Airways dropped 4.5p to 250.75p.
W H Smith shed 10.75p to 338.5p on concern the venture-capital firm Permira Advisers will drop plans for a £940m takeover bid because of the magazine seller’s pension deficit.
In Asia, Tokyo's Nikkei 225 index lost 35.16 points to 11,491.66 earlier today, while Hong Kong's Hang Seng index dropped 319.82 points to 12,076.57.
In the US, the Dow Jones Industrial Average index ended last week unmoved at 10,410.10 points, while the S&P 500 index gained 5.14 points to 1,136.47.
Nasdaq's Composite index closed up 9.26 points to 1,999.87.IFAonline
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