London Stocks Flat Ahead of ECB Decision as Oil Prices Continue Rise

London's FTSE 100 is expected to open flat on Thursday as investors await the European Central Bank's latest interest-rate decision.

The benchmark index is forecast to rise just 4 points to around 10,671.98, following Wednesday's sharp decline of 1.3% to 10,670.06.

Falling stock markets worldwide have added to investors' concerns about the global economy, with rising oil prices and increasing government bond yields weighing on sentiment.

The Treasury Department's announcement to triple long-term bond buybacks to as much as $6 billion failed to calm market conditions, with US Treasury yields continuing to rise.