The UK could be locked indefinitely into the proposed Brexit backstop arrangement on Northern Ireland, according to the government's legal advice published on Wednesday.
Stocks on the Continent finished near their worst levels of the day although losses were but a fraction of those seen on Wall Street overnight, as China sounded a positive note on the likelihood of being able to reach a trade deal with the US.
The energy space was in focus on Wednesday, ahead of the ministerial meeting of Organisation of Petroleum Exporting Countries and its allies scheduled for the following session.
London-listed investment firm Eight Peaks swung to a loss in the first half of its trading year on the back of declining investment gains and heightened admin expenses.
Google will test its drone delivery service in Finland next year, the company announced on Wednesday.
Barclays has cut GlaxoSmithKline to 'equalweight' from 'overweight' and trimmed the price target to 1,600p from 1,750p after the pharmaceuticals giant announced earlier in the week that it was selling its Horlicks business and other consumer health brands to Unilever for £3bn and buying US drug company Tesaro for $5. 1bn.
London stocks finished in the red on Wednesday, albeit with the pound clawing back some ground as some traders now saw a lower chance of a no-deal Brexit.
Oil engineers and construction companies led the downside as stock markets endured another down day, while the house building and real estate sectors led the upside on Brexit hopes.
Analysts at UBS downgraded Centrica to 'neutral' on Wednesday, highlighting a "more balanced" risk/reward scenario in the wake of the FTSE 100 constituent's most recent trading update.
London's FTSE 250 was up 0. 07% at 18,341. 83 in afternoon trade on Wednesday, as Thomas Cook staged a desperate recovery after a series of negative sessions.
Daily Mail And General Trust chairman Jonathan Rothermere sold 52,101 ordinary shares in the British media giant on Wednesday, less than a week after the newspaper group saw shares tumble in the wake of a warning around "volatile" conditions in consumer media.
Investors on both sides of the Atlantic will struggle to digest the heavy flow of economic reports that are set for release on Thursday.
PCF Group hiked its final dividend by over 50% on Wednesday after reporting that full-year profits jumped in its first full year as a bank.
Liberum reiterated its 'sell' rating on education publisher Pearson on Wednesday, saying that disappointing second-quarter results from Barnes & Noble Education in the US provide warning signs.
British oil and gas firm EnQuest said it was on target to meet full-year production targets following the completion of its acquisition of the Magnus oil field from BP.
Takeda Pharmaceutical's £46bn takeover of London-listed pharmaceutical group Shire has been approved by both sets of shareholders on Wednesday.
According to Management Today's annual Britain's Most Admired Companies survey, head of ITV Carolyn McCall and head of GSK Emma Walmsley are the most admired leaders in the country.
The Investment Association has contacted more than 30 British companies, including media giant WPP and drugs firm AstraZeneca, to express concerns over how shareholder revolts are being handled.
Sustainable specialty polymers provider Itaconix has signed a licence agreement with New Wave Global Services of Ontario, Canada for a new proprietary non-phosphate automatic dishwasher detergent formula based on its ‘Itaconix CHT’ polymer, it announced on Wednesday.
London's FTSE 100 was down 1% at 6,949. 89 in afternoon trade on Wednesday amid Brexit uncertainty.