Leading shares have fallen back, weighed down by some poor corporate results and continuing worries about global growth, particularly in China.
Pharmaceutical giant GlaxoSmithKline is considering floating its standalone HIV drugs business ViiV in a move that would propel the business into the FTSE 100's top 40 companies with a market valuation of up to �17billion.
About one in ten Lloyds employees are set to lose their jobs over the next three months as the group is expected to announce a further 10 per cent cut to its 88,000 workforce, it has been reported.
Shares in Foxtons plunged 15% after the estate agent warned that the London's property market was cooling. The company, whose 50 branches operate mainly in the capital, reported a "sharp and recent slowing of volumes" in London sales.
The number of mortgage approvals made to home-buyers was 10% lower in September compared with the same month a year earlier in further signs that the housing market is cooling, banks have reported.