Miners weighed on the Footsie, which finished around 48 points lower at 6,364.9.
Anglo American (LON:AAL) was the biggest loser, shedding 7.68% to 534.6p - falling to new 16 year lows on the back of tumbling copper prices.
RSA Insurance (LON:RSA) was top gainer, adding 3.42% after it revealed a turnaround plan on track, unveiling a 1% rise in underlying premium income in the first nine months.
Market talk suggested that the M&A spotlight was on the payments industry with rumours of a possible bid by industry giant Worldpay (LON:WPG) for rival Optimal Payments (LON:OPAY).
Worldpay shares added 2.81% to 284p, while Optimal added 1.94% to 341p.
An Optimal Payments spokesman said: "We don't comment on market rumour and speculation." Worldpay also declined to comment.
The UK benchmark had earlier gone into the black briefly as the Bank of England hinted that the cost of borrowing could stay on hold until 2017.
The Bank's monetary policy committee (MPC) voted 8-1 to keep interest rates at 0.5%, as per the market consensus.
Its inflation report cited downside risk to inflation targets, noting the strength of the pound and potential emerging market economic weakness.
AJ Bell investment director Russ Mould said: "As a result, the Bank of England has gone so far as cut its forecasts for inflation out to the first half of 2017."
At spread-betting firm IG, Joshua Mahony, market analyst, said: " The FTSE is ending the day in the red, despite a dovish set of updates from the Bank of England."
He also looked at likely actions of the US Fed, which will have its eye firmly on the US non-farm payroll number tomorrow.
"Despite the denial that the BoE are not waiting for the FOMC to act first, it is highly likely that there will be a notable gap between the two banks raising rates given the effect it could have upon financial markets.
"Certainly Yellen has struck a more willing tone when it comes to a near-term rate rise, and thus the likely outcome is a Q1 2016 rise from the Fed followed by a Q2 move from the BoE."
High Street supermarket Morrisons (LON:MRW) dropped 5.46% to 167.8p after the supermarket chain reported another fall in sales in the third quarter.
Thomas Cook (LON:TCG) fell 8.18% to 111.10p as flights were grounded to and from Egypt resort Sharm-El Sheik.
Drug giant AstraZeneca (LON:AZN) rose almost 3% to 4,350p as it upped revenue and earnings guidance for 2015. But it said 2016 would be challenging due to loss of exclusivity on cholesterol treatment Crestor in the US.
Oracle Coalfields (LON:ORCP) soared almost 15% as the developer of a combined lignite mineral resource and mine mouth power plant in the south-east of Sindh Province, Pakistan, received a letter of no objection from the Central Power Purchasing Agency Guarantee for the project.
Galantas Gold (LON:GAL) glittered 8.57% higher to 4.75p as it found gold in its Republic of Ireland licence areas near the company's Omagh mine.
*Remember, Proactive is reporting the hot market topics being discussed by traders and bankers - it is not market fact. Neither is it an invitation to trade on the information.