Wall Street has edged lower in early trading following weaker than expected US GDP figures, helping to keep the London market in negative territory.
The Dow Jones Industrial average is down around 17 points as the American economy grew at 3.2% in the first quarter, slightly below forecasts of 3.4% growth. The FTSE 100 - already weaker due to falls in banking and mining shares - is now down 70.46 points at 5547.38.
Rob Carnell at ING Bank said the US GDP figures showed the recovery was still intact but he added:
It may be more difficult for the US to keep putting in above trend growth figures in the quarters ahead.
Not helping market sentiment is the news that credit agency Moody's has cut its ratings on nine Greek banks.
