The FTSE 100 Index failed to make headway today, despite a strong session for Asian markets and the boost of a £1.3 billion takeover deal.
GlaxoSmithKline's sale of Ribena and Lucozade to Japan's Suntory offered another positive sign on the pick-up in merger and acquisition activity.
However, Glaxo's shares were down 3.5p to 1647.5p and London's FTSE 100 Index slipped 12.7 points lower at 6534.5 in a lacklustre start to the week.
Earlier, the Nikkei 225 jumped 2.5% after Tokyo was chosen to host the 2020 summer Olympics and it emerged that Japan's economy grew faster than previously thought in the second quarter.
Meanwhile, Chinese data showed that the country's exports accelerated and inflation edged lower last month, raising hopes for a pick-up in the world's second largest economy.
Oil and gas exploration group BG was the biggest faller in the FTSE 100 Index after it lowered its production guidance for the next financial year, partly due to ongoing instability in Egypt. Shares were down 4% or 58.5p to 1223.5p.
There was also a fall of 3% for food ingredients firm Tate & Lyle after UBS downgraded its price recommendation on the blue-chip stock, leaving it 20.5p lower at 786.5p.
And another strong sales performance at retailer Primark failed to lift shares in owner Associated British Foods, which retreated 25p to 1826p following a rise of 16% so far this year.