The FTSE slipped during morning trade as insurance stocks stumbled on the news of an expected US interest rates cut.
Expectations for a cut in US interest rates were largely dashed after it emerged that the US Republican party had scored gains in the mid-term elections.
The FTSE 100 traded 0.6% lower at 4122 earlier, having reached 4,192 earlier in the session.
Aviva reversed early gains to slip 1.3% to 539, while Allianz Cornhill lost 1.9% after dropping down to 7519.
Insurance stocks received a further blow with the news that Aon is rumoured to be slipping into the red. Aon is currently down 0.3% to US£18.13 per share.
Among several gainers, Sherwood International enjoyed a 13% gain to £18.01 per share, on the back of its new service agreement with DEFRA.
