European markets started Wednesday on a bad footing, opening mostly down.
Oil prices have fallen throughout the Asian session and into European trading. West Texas intermediate lost 1.33% to $42.22 and Brent Crude was down 1.11% to $44.48 a barrel.
In London, the FTSE 100 lost 0.11% in early trading and the more domestic focused FTSE 250 was marginally up 0.14% at 17,712.09.
U.K. government bonds, known as gilts, saw prices rise on this morning. The 10-year yield fell 3.9 basis points to 0.541%. This comes after the Bank of England yesterday said it had not managed to buy all the gilts it had intended to.
The central bank said it would make up for the £52 million ($67.8 million) shortfall in gilt purchases later in the program.
Securities firm G4S (GFSZY) surged 14.42% on the FTSE 250 on Wednesday after reporting a 44% increase in profits in the first half. Revenues increased by 3.2% to £3.5 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 gained 6.71% in early trading after saying that it had rejected a £1 billion takeover bid. The London-listed Canadian media company that makes 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," a statement from the company said.
In France, factory output deteriorated further in June. There was a 0.8% contraction in June, economists were expecting a 0.1% increase. Output fell by 0.5% in May.
In Paris, the Cac 40 was recently down 0.16% at 4,460.85 and the Dax was down 0.08% at 10,684.48 in Frankfurt.
E.ON (EONGY) shares plunged 6.5% today after Germany's largest energy company reported a net loss of EUR3 billion in the first half of 2016. The fall was due to a EUR2.9 billion write-off on the value of power stations.
Dow Jones Industrial Average mini futures were recently up 0.06% and S&P 500 mini futures were 0.08% up.