The FTSE100 fell sharply upon opening this morning, as the leisure sector struggles on gloomy news from Punch Taverns. London's blue chip index is currently 41.70 points lower (0.74%) to 5579.
News pub group Punch scrapped its final dividend to save cash has smashed compatriot Enterprise Inns, 9.76% behind to 277.25.
Miner Ferrexpo is lower on a mixed morning for the sector, 3.2% down to 241.75. Travel firm Thomas Cook is also struggling, 3.14% lower to 238.75.
A £1bn pension deal with Prudential has boosted Cable & Wireless, up 1.9% to 182.50.
Miner Eurasian is 1.51% higher to 942 and BAE Systems is 1.35% ahead to 489.50.
In New York, Wall Street closed slightly lower on Tuesday after the Labor Day holiday, after a late decline sent the Dow Jones IA down 26.63 points (0.23%) to 11516.92.
Continued metal price falls hit aluminium producer Alcoa, 5.2% lower to 30.46.
The oil giants declined as the crude price sunk under $110 a barrel; Chevron dipped 3.51% to 83.29 and Exxon Mobil lost 3.36% to 77.32.
General Motors rallied on the oil price drop, adding 6.5% to 10.65. A positive Goldman Sachs forecast for Bank of America lifted the financials sector, with the bank up 4.78% to 32.63.
In Tokyo, the oil drop led Japanese investors back to the table on Wednesday after a sharp two- day decline. The Nikkei 225 finished 80.12 yen (0.64%) higher to 12,689.59.IFAonline
£300bn of liabilities
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