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The FTSE 100 closed Thursday materially lower after US producer prices data came in ahead of forecasts. At the end of the trading session the index was down 0.4% at 7,193.23.
In the US the S&P 500 was flat at 4,447.27 by 4.30pm UK time.
Alcoholic drinks maker Stock Spirits gained 43% to 383.5p after agreeing to a £767 million takeover offer by private equity firm CVC Advisers.
Aviva gained 3.8% to 422.1p as it said it intends to return at least £4bn to shareholders by the end of 2022, starting with a £750m share buyback programme.
The announcement, made as part of its interim results, comes as the insurer reports a 17% rise in operating profit to £725m for the first half of 2021.
Cineworld's revenue plummeted 59% in the first half of the year, from $712.4m in the first half of 2020 to $292.8m in 2021, as Covid 19 lockdowns at the start of the year resulted in the closure of almost 800 of its sites.
However, investors focused on a more positive outlook for the company and marked the shares 3.8% higher at 63.6p, down from earlier highs above 67p.
TUI AG's revenue remains down almost 80% for the first nine months of 2021 to the end of June, despite a significant pick up in the third quarter.
According to its latest update, revenue for the nine months to the end of June was €1.3bn, compared with €6.7bn for the same period the year prior. The shares were down 0.9% to 329.4p, reversing earlier gains.
Coca-Cola HBC AG, a consumer packaged goods business and strategic bottling partner of The Coca-Cola Company, has reported a 14.7% rise in revenues for the six months to the end of June. The shares fell 2.1% to £26.61.