Early gains have been all but erased on Wall Street at the start of the trading week.
The Microsoft tilt for Yahoo took another turn, with Yahoo indicating it would be open to a sweetened takeover bid from Microsoft, having rejected a three-week deadline to accept the earlier hostile offer of $US44.6 billion.
On the subprime front, the big mortgage lender, Washington Mutual, is reportedly close to sealing a $US5 billion capital injection from interests led by private equity firm, TPG.
On the New York Stock Exchange, the Dow Jones industrial average closed just three points ahead at 12,612.
The high-tech Nasdaq composite index was six points lower at 2,365.
In Europe, key markets enjoyed a positive session, despite weak employment figures in the US on Friday night.
London's FT-100 index has gained 68 points to 6,015, that is a gain of 1.1 per cent.
Yesterday in Australia, there was a moderate advance.
The All Ordinaries index added 20 points to close at 5,684.
BHP Billiton shares gained $1.95 to $40.55.
However, all of the major banks fell heavily, with ANZ down $1.55.
ANZ has warned it expects to raise its provisioning for bad loans to almost $1 billion for the first half.
Looking at the overnight session on the Sydney Futures Exchange and the Share Price Index 200 contract closed down three points at 5,688.
On foreign exchange markets, the Australian dollar has moved ahead overnight.
About 7:08 am (AEST) it was buying 92,53 US cents, 0.5890 euros; 94.79 Japanese yen and 46.52 pence.
The gold price had advanced overnight to $US920.40 US an ounce.
Light sweet crude oil futures have settled in New York at $US109.90 a barrel, amid predictions of a decline in US stockpiles of fuel.
Source: By Australian Broadcasting Corporation
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