U.K. stocks finished higher Wednesday, reversing course as gains for shares of Lloyds Banking Group PLC and Glencore PLC, which released financial updates, accelerated during the session. Stocks in London overcame the losing tone set early by U.S. stocks, which snapped a win streak in the previous session. Meanwhile, the pound was whipped around after economic data and parliamentary testimony by Bank of England policy makers.

U.S. stock futures hinted at a weaker start for Wall Street on Thursday, as the market continued to digest the minutes of the January Federal Reserve meeting. Dow futures YMH8, -0.50% fell 114 points, or 0.5%, to 24,667, while S&P 500 futures ESH8, -0.31% dropped 7.7 points, or 0.3%, to 2,691.

Declines continued in global equities, with Asian markets largely building on the sharp selloff in U.S. stocks overnight that was stoked by fresh concerns about higher interest rates.