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The FTSE 100 was down almost 1% in early trading this morning as tensions between Iran and the US hit new highs.
The news overshadowed some positive updates from major companies.
AstraZeneca's shares fell 1.3% despite gaining approval for a hyperkalaemia drug in China.
The pharmaceuticals giant also announced the US Food and Drug Administration had accepted its application and granted priority review for a drug used to reduce the risk of cardiovascular death or heart failure.
Fellow pharmaceuticals company Dechra has agreed terms to acquire the global rights to the Osurnia product portfolio from Elanco Animal Health for $135m.
The company said the addition would 'significantly enhance its presence in this key therapeutic area and complete its otitis externa service offering to veterinarians'.
Nevertheless, its share price fell 1.3%.
Insurance giant Pruential's shares fell by 2.4% despite announcing a new partnership for insurance distribution in Vietnam.
Prudential's Vietnamese subsidiary, Prudential Vietnam Assurance Private Limited, has entered into a bancassurance partnership with Southeast Asia Commercial Joint Stock Bank (SeABank).
The exclusive agreement has a 20-year term and will become effective from April 2020.
Compass Group fell by 1.6% after it announced that Paul Walsh would be stepping down as chairman to focus on his other business interests.
Walsh is to remain as chairman until his successor is appointed, the company said.
FTSE 250-listed Sirius Real Estate had a more positive start to the day, gaining 1.2% after it announced the acquisition of two business parks for a total of €33.4m.
The purchase price includes acquisition costs and reflects an aggregate EPRA net initial yield of 6.8%.
Anglo African Oil and Gas has warned it may run of money by February, although it said it was continuing to make progress to secure financing as it awaited proceeds from the sale of a stake in its Congo subsidiary.
Its shares plummeted by 17.4% this morning.
The company said it was in talks with RiverFort to provide financing by way of a convertible loan note, which was conditional on shareholders approving the disposal at the general meeting to be held on 13 January.
Online trading platform Plus500's shares were down slightly by 0.2% after it said it expected to report revenue of approximately $354m for the year ending 31 December 2019.
EBITDA for the year was expected to be approximately $190m after a much improved second half compared to the first half.
KEFI Minerals shares were up 22% this morning after it said ANS Mining had completed its equity subscription in the company's Tulu Kapi gold project. The existing TKGM shareholders, KEFI and the Ethiopian Government, had also approved the issue of TKGM shares to ANS Mining. Transfer of first tranche funding of $9.5m was expected to be completed in during January, KEFI said.