After a pressured start to the week, the FTSE has been toying with positive territory but is failing to hold early gains.

There was certainly a lack of clarity for markets at the end of last week as bumper non-farm payroll figures out of the US failed to offer much lasting support for equities, whilst speculation that Greece was looking for an exit strategy from the Eurozone - making a drachma out of the crisis - added to woes for European markets after hours. The rebound in commodity prices may have helped add a degree of support to London’s heavyweights, although Centrica is struggling after downbeat guidance in light of recent tax changes. Of the majors, it’s only the mining sector that is now in the lead. One other company worthy of note is Inmarsat, the satellite communications firm which has had a torrid
 start to the year but is now trading almost 4% higher after interims.

UK banks have been some of the big detractors so far with the evident defeat to the PPI claim saga weighing. HSBC’s results failed to impress either, with news of rising costs leaving shares to tumble 3% from session highs. With little economic data due for release in the coming hours, trader sentiment is likely to prove instrumental as we move towards the US session. Looking at the futures market, some of the early confidence is ebbing away from Wall Street and the DOW is now looking to open only around 25-30 points higher.