The FTSE 100 Index has retreated 52.4 points, or 0.9%, to 6051.9 points this morning, led by oil and mining companies.
BP has fallen 1% to 691p, Shell has lost 1.4% to 1,929p and BG Group has declined 1.2% to 759p.
Crude oil fell for a fourth day in New York after a government report showed US refineries increased output of gasoline, easing concerns about supply shortages this summer.
In the mining sector, BHP Billiton has lost 2.8% to 1,139p, Anglo American has declined 3.5% to 2,332p, Rio Tinto has fallen 2.1% to 3,064p and Xstrata has slid 3.6% to 2,007p.
Provident Financial has also declined 12p, or 1.9%, to 636.5p. UK door-to-door lenders such as Provident Financial and Cattles "overcharged" customers by about £100m a year, the Competition Commission said after a 16-month probe of the industry.
Shares of Cattles have lost 4.5p, or 1.2%, to 375p.
In Japan, the Nikkei 225 Stock Average added 58.61 points, or 0.3%, to 17,114.54 points after Daiwa Securities Group reported earnings that beat analysts' estimates.
Daiwa advanced 48 yen, or 3.1%, to 1,577, saying its profit almost tripled to 55.3bn yen for the three months ended 31 March.
Mitsubishi UFJ Securities, which reported a bigger-than-estimated profit of 61.2bn yen ($533m) for the last fiscal year, jumped 88 yen, or 5.1%, to 1,825.
Nomura Holdings rose 45 yen, or 1.8%, to 2,595. It is scheduled to report earnings tomorrow.
Limiting gains, steelmakers fell after Kobe Steel and JFE Holdings predicted profit declines in this business year during the afternoon session.
Kobe Steel fell 10 yen, or 2.4%, to 395 and JFE lost 70 yen, or 1.5%, to 4,480.
In the US, the Dow Jones industrial average ended up 71.24 points, or 0.63%, at 11,354.49 points, its highest close since 19 January 2000, buoyed by stronger-than-expected earnings from companies such as brewer Anheuser-Busch.
Anheuser-Busch gained 5.3%, or $2.27, to $44.90.
Merrill Lynch upgraded General Motors to "neutral," saying it sees early signs of a turnaround, and making GM the Dow's top gainer as it rose 7.9%, or $1.70, to $23.11.
Stocks also extended Wednesday's upward swing after a report showed a 13.8% jump in new home sales in March, which far exceeded expectations.
Toll Brothers gained 1.1%, or 36 cents, to $33.30.IFAonline
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