The FTSE 100 looked set to end the week on the backfoot despite overnight gains on US and Asian markets, with tech stocks sending the Nasdaq 1.5 % higher.
Shortly after the open, London's blue chip index was 29 points, or a third of a percent lower at 8,735.
Natwest's shares fell close to 2% despite the company reporting a profit of £6.2 billion for 2024, broadly unchanged from 2023 but ahead of the £6.1 billion expected by the City.
Barclays shares were also down for a second day, with the decline ascribed to profit-taking after a strong run for both banks.
On the upside, Serinus Energy's shares rose sharply after it announced it had won a legal battle in a VAT litigation case against the Romanian tax authority.
GENinCode's shares saw an initial spark before also dipping into the red after the genetics firm said it was raising up to £4 million of fresh capital through a share placing and subscription.
And shares in Totally plc dropped 21% in the first hour of trading after the company announced it had lost its £13 million NHS 111 National Resilience support contract.
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