London (AFP) - London shares fell at the start of trading on Wednesday after sharp gains the previous day while oil prices drifted to new lows.
"Shares are trading lower this morning, failing to extend yesterdayâs impressive afternoon turnaround as a sharp sell-off in late US trading is hurting sentiment early on today," said Markus Huber, senior sales trader at Peregrine & Black.
"For the first half of the trading day focus this morning will be on UK employment data, BOE (Bank of England) minutes and eurozone inflation data."
Global markets have been in turmoil this week due to plunging oil prices and a crash in the Russian ruble.
Electrical and telecommunications retailer and services company Dixons Carphone led the FTSE board early on Wednesday, climbing 4.29 percent to 445 pence. Intertek Group was up 1.28 percent to 2,299 pence.
Packaging and paper group Mondi suffered the most, slipping 2.89 percent to 1,007 pence. Insurer Standard Life was next, retreating 2.50 pence 386.10 pence.
Frankfurt's DAX 30 dropped 1.13 percent to 9,455.74 points and in Paris the CAC 40 retreated 1.0 percent to 4,052.23.