The FTSE 100 was flat at 6,958 as oil prices declined by at least 1.3%.
Barclays (BARC) and delivery service Royal Mail (RMG) were some of the biggest losers, falling by up to 2.2%.
UK unemployment fell by 16,000 to 1.62m in the three months to October, according to the Office for National Statistics.
West Texas Intermediate and Brent crude oil slumped to $52.24 and $55 per barrel, respectively.
Gold gained 0.4% to $1,161 per ounce and copper was stable at $5,732 per tonne.
FTSE 100 RISERS AND FALLERS
Software developer Micro Focus (MCRO) was one of the biggest blue chip risers on its half year results, which revealed a 14.2% jump in revenue to $684.7m. The stock advanced 6.3% to £22.64.
Investors overlooked pre-tax profit growth at electrical retailer Dixons Carphone (DC.) as it warned that uncertainty after the Brexit vote may impact its ability to operate across its European businesses.
FTSE 250 RISERS AND FALLERS
Energy services company John Wood (WG.) reassured the market that it will meet current full year expectations and it still intends to hike the dividend by a double digit percentage.
SMALL CAP RISERS AND FALLERS
Biological products provider Plant Health Care (PHC) announced four new commercial distribution arrangements, causing its share price to rocket 45.4% higher.
Gold explorer Orogen Gold (ORE) crashed 26% on a disappointing update on its Mutsk gold deposit. It said the shallow zone in this area was heavily weathered with some core loss and gold may have been washed out during the drilling process.
Cyber security services firm ECSC (ECSC) traded nearly 20% higher at 199.5p on its first day of trading on AIM.
Engineering group TP (TPG) sparked 17% higher on expectations that it will significantly exceed current market expectations concerning earnings before interest, tax, depreciation and amortisation.
Mobile enterprise solutions developer Crimson Tide (TIDE) pleased investors with an upbeat trading update that expects pre-tax profit to more than double in the year to 31 December.
Diagnostics devices company Sphere Medical (SPHR) launched Proxima 4 in Europe, which is used for measuring blood gases, electrolytes and metabolites. The stock rose 12% to 9.9p.
Exploration firm Amur Minerals (AMC) gained 15.5% to 10.6p on anticipation of a resource update in 2017 for its Maly Kurumkon / Flangovy deposit. It reported the update may provide ‘multiple improvements’.
Holographic display provider MediaZest (MDZ) plummeted 16.4% after it announced that improved full year results to 31 March 2017 is subject to the delivery of specific key projects.
Online fashion retailer Boohoo.com (BOO) stepped 7.8% higher on a stronger trading performance. The company reported that it expects revenue growth of between 38% and 42% in full year 2017.
Audio platform provider audioBoom (BOOM) reported its earnings before interest, tax, depreciation and amortisation loss to be greater than expected. It blamed higher audience acquisition costs and recruitment fees.
Global finance firm Burford Capital (BUR) entered an agreement to acquire GKC for $160m, prompting an 13.5% rally in its share price.
Tethyan Resources (TETH) completed four diamond drill holes for a total of 2,318 meters on the Rudnitza copper-gold porphyry prospect within the Suva Ruda exploration in Serbia.
Story provided by StockMarketWire.com