(Open): Gains for mining shares helped the FTSE 100 edge higher.
A 2.3% rise for BHP Billiton and a 2.4% rise for Anglo American helped support the FTSE 100 which added 3 points.
Royal Bank of Scotland and Lloyds Banking Group were the big losers, falling 3% and 2% respectively, after negative comments from analysts at Deutsche Bank.
Shares in Marks and Spencer fell 1.2% following reports that it plans to cut up to 500 jobs at its head office.
On the currency markets, the pound was little changed against the dollar at $1.3297.
It was 0.1% lower against the euro at €1.1907.
Traders will be keeping a close eye on data on the UK services industry. The Markit/CIPS UK Construction Purchasing Managers’ Index is released at 09:30.
US financial markets are closed for Labor Day, which could subdue trading in Europe.