Recent events in China have played on the FTSE 100, which opened 0.4 percent lower this morning after falling 2.5 percent last week.

Fears of falling demand for oil has led to concerns about oversupply, with Brent crude losing another 1.2 percent to $48.58 a barrel.

BHP Billiton (LON:BLP) is down 1.04 percent after being downgraded by Deutsche Bank, and Glencore (LON:GLEN), which has struggled in recent weeks, has lost another 1.9p ahead of this week’s results.

However, building materials supplier Wolseley (LON:WOS) is up 1.3 percent after Citigroup raised its recommendation from neutral to buy.