The FTSE and European share markets began trading marginally up on Thursday morning, before dropping into the negative mid-morning.

The FTSE is currently down 0.11 percent, with the DAX down 0.46 percent and the IBEX down 0.57 percent (1027GMT).

Fiona Cincotta, Senior Market Analyst at City Index, commented on stock movements in the US and Asia overnight:

Gains in US energy stocks, driven by further rises in the oil price, have been offset overnight by selling in the technology sector, resulting in a drop of 165.52 points in the Dow Jones. The S&P 500 also ended down at 2,699 despite having been 0.85% in positive territory at one point during the day’s trading in America.

:The reversal was caused by ongoing worries about the evolving tit-for-tat trade war spat emerging between the US and China, where the rhetoric seems to be heating up. Threats by the White House to curb Chinese investment in the US seems to have hit technology stocks hardest, with the NASDAQ down 1.5% at 7,445.

“Asian stocks followed suit, also dropping to nine month lows overnight, despite the fact that the White House has seemed to be softening its stance slightly on China. The MSCI World Equity Index, considered a good benchmark of equity market sentiment, is down at a three month low, but the USD is up slightly this morning as the market hopes that Trump has been talked down from his earlier tougher stance on China investment.”

The top risers on the FTSE 100 on Thursday are Just Eat (LON:JE), up 3.12 percent, Shire plc (LON:SHP) and Bunzl (LON:BNZL), after they posted an 11pc rise in revenue on Wednesday.

The FTSE’s biggest fallers included Evraz (LON:EVR), down 2.30 percent, NMC Health (LON:NMC) and Primark owner Associated British Foods (LON:ABF), down 2.03 percent.