Sharecast - The FTSE 100 was down 0.1% at 7,890.13.
Russ Mould, investment director at AJ Bell (LON:AJBA), said: "The decline in miners, packaging groups and retailers on the UK stock market would suggest investors are once again worried about the outlook for the global economy. Markets have stalled over the past few days, with the latest corporate updates failing to move the dial."
"A lot of companies are keeping their heads above water but there remain plenty of headwinds to cloud the outlook. The prospect of another round of interest rate hikes in the US and Europe will further increase the cost of borrowing, coinciding with fears that banks are going to have stricter lending policies following the recent Silicon Valley Crisis. Tighter lending could feasibly lead to weaker economic activity."
"Later today we’ll get an update on US jobless claims, manufacturing activity and US home sales, helping to give a more up-to-date picture of the state of the country."
In equity markets, miners were on the back foot, with Antofagasta (LON:ANTO), Anglo American (LON:AAL) and Rio Tinto (LON:RIO) all down as metals prices fell.
Rio Tinto was also in focus after it reported record first-quarter iron ore shipments from its Plibara operations in Western Australia as China ramped up steel production, but cut copper output guidance due to issues at its US Kennecott and Chilean Escondida operations.
Elsewhere, WH Smith (LON:SMWH) fell even as the retailer hailed a "strong" first-half performance, ahead of its expectations, as the travel segment benefited from a significant recovery in passenger numbers.
Antofagasta, Vistry (LON:VTYV), Vesuvius (LON:VSVS) and Vivendum were among the stocks trading ex-dividend.
On the upside, real estate investment trust Segro (LON:SGRO) gained after saying 2023 had got off to strong start, boosted by solid occupier demand and limited supply.
Consumer healthcare giant HALEON (LON:HLN) rose as it posted first-quarter sales ahead of expectations, boosted by a strong cold and flu season.
Investment platform operator AJ Bell was trading up even as it said that inflows had decreased in the three months ended 31 March despite seeing customer numbers grow during the period.
Iron ore pellet maker Ferrexpo (LON:FXPO) advanced after it said Ukraine's Supreme Court had ruled in favour of the company in a dispute over a share deal.