Most European markets ended the day in the red, amid oil-price volatility.

Oil dropped in the European afternoon after data showed a decline in U.S gasoline and diesel inventory but a rise in crude stocks. West Texas intermediate was recently 1.64% down at $42.07 and Brent Crude lost 1.42% at $44.34 a barrel.

Data from the U.S. Energy Information Agency show gasoline stocks fell by 2.8 million barrels last week. The EIA said, "At 523.6 million barrels, U.S. crude oil inventories are at historically high levels for this time of year."

This comes as Saudi Arabia today told Opec that oil production rose to record levels in July to meet domestic demand and compete with rivals.

In London, the FTSE 100 ended the day in almost the place it began, 0.09% up at 6,857.44. The FTSE 250 closed at 17,699.68, 0.07% up.

Securities firm G4S (GFSZY) surged 16.2% on the FTSE 250 on Wednesday after reporting a 44% increase in profits in the first half. Revenue increased by 3.2% to £3.5 billion ($4.55 billion) and earnings grew to £69 million.

The company said that it was making "substantial" progress with its turnaround plan. The company is overcoming several scandals. The most recent was the revelation that the Orlando night club shooter was a G4S employee. Shares in the company are down 16% over the past year.

Entertainment One ended the day 10.3% up after saying that it had rejected a £1 billion takeover bid. The London-listed Canadian media company that owns children's cartoon franchise Peppa Pig rejected the takeover bid from ITV (ITVPY) "on the basis that it fundamentally undervalues the company and its prospects."

In France, factory output deteriorated further in June. There was a 0.8% contraction in June, whereas economists were expecting a 0.1% increase. Output fell by 0.5% in May.

In Frankfurt, the Dax lost 0.32% on Wednesday to close at 10,658.55 and the Cac 40 closed at 4,451.36, 0.37% down.

E.ON (EONGY) shares plunged 7.8% today after Germany's largest energy company reported a net loss of €3 billion ($3.35 billion) in the first half of 2016. The fall was due to a €2.9 billion write-off on the value of power stations and energy trading assets it plans to spin off next month.