Renewed worries about - yes - the eurozone crisis have taken the shine off the market's attempted rally.
Ahead of US factory and durable goods data, Wall Street has opened around 12 points lower and after a brightish start, the FTSE 100 is now down 21.04 points at 5678.87. French, German and Italian markets are also heading lower, with the latter down nearly 1.5%.
Investors are growing increasingly nervous after a mixed response to German and Portugal government bond sales, and worries about Hungary's financial state following news it had cancelled a debt auction.
A deeply discounted rights issue from Italy's Unicredit turned the spotlight on the banking system once more, and the amount of refinancing the sector is likely to need.
