After a strong start on news that a US court has ruled President Donald Trump's tariffs illegal, the FTSE 100 has retraced its early gains.
An hour into trade, London's blue-chip index is just 7 points up at 8,734, for a gain of just under a tenth of a percent.
Weighing on the market is Auto Trader Group PLC (LSE:AUTO), after its full-year results showed slower growth in retail sales in the second half of its financial year.
Utilities and other bond-sensitive shares are down too as bonds come under fresh pressure, with National Grid, Severn Trent, Phoenix Group all down at least 2%.
Topping the FTSE leader board this morning are Glencore, Polar Capital Technology Trust and Standard Chartered, with gains of between 1% and 2%.
