Japan's Nikkei fell overnight as concerns over weak US growth figures hit the country's export sector.
The FTSE 100 had a "historic" day yesterday after global mining giant Glencore appointed its first female director.
Barclays' share price has fallen 5% this morning following news US prosecutors has initiated a fraud case against the bank.
Fund managers have backed financials, retailers, and housebuilders to benefit following the latest move down in UK inflation.
US GDP contracted 2.9% in the first quarter as bad weather had a worse-than-expected impact, according to final estimates.
A hike in the base rate of as little as 0.25% would have a much greater impact on the disposable incomes of highly indebted consumers, potentially threatening the UK's recovery, Neil Woodford has said.
Sterling has fallen back below $1.70 after Bank of England Governor Mark Carney sounded a more dovish tone on base rate rises.
Revenue from taxes on home buyers and savers looks likely to exceed money hauled in from ‘sin taxes' such as those applied to alcohol and tobacco, according to the Daily Telegraph.
Monetary Policy Committee member David Miles has outlined his desire for a rate rise before his exit in May 2015.