The FTSE 100 Index gave up some of Monday's gains today as speculation continued to swirl over when Spain will request a debt bail-out.

The country is debating whether to follow Greece, Ireland and Portugal in seeking assistance for its economy, but reports have suggested that it is under pressure from Germany to delay the request.

This unsettled the FTSE 100 Index, which was 14.1 points lower at 5806.5 after rallying yesterday on positive economic data from the United States and signs that Spain's banks are not as vulnerable as initially thought.

Among the top flight's fallers, building supplies firm Wolseley declined 19.5p to 2663.5p after announcing a sharp fall in full-year profits to £198 million.

The business has been hit by tough conditions in continental Europe but said steady market conditions in North America and signs of recovery in the UK meant it would still increase its full-year dividend by a third.

ITV shares were higher for a second session in row - up 1.6p to 91.5p - as the broadcaster continued to attract bid speculation.

And engineering support services company Babcock International topped the risers board after it said it was confident of meeting expectations for the current financial year. Shares were up 28.75p to 951.25p.

The pound at 9am was 1.6145 dollars compared to 1.6141 dollars at the previous close. The euro at 9am was 0.7989 pounds compared to 0.7994 pounds at the previous close.