UK and European markets turned lower after U.S. inflation came in above expectations.
US stocks moved lower shrugging off a fresh round of inflation data that reflected an uptick in consumer prices for December.
The yen was squeezed, weighed by sluggish Japanese wages, while the dollar was becalmed as traders waited on U.S. inflation data to see whether bets on rate cuts were justified.
Oil prices rose after an oil tanker was boarded by an armed group in Oman, raising the prospect of escalating conflict in the Middle East.
Gold prices climbed, buoyed by a softer dollar.
The founder of Nisbets, a privately-owned catering equipment company, is reportedly in talks about a potential sale to Bunzl that would value the firm at between £450m and £500m.
According to Sky News, Andrew Nisbet, whose business has become a multinational distributor to the food service sector, is in advanced talks with FTSE 100 distribution and outsourcing company Bunzl about a deal that could be struck within weeks.
If completed, it would propel Nisbet, who founded the company in 1983, and his family into the ranks of Britain's wealthiest people, Sky said.
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