FTSE 100 falls by over 1%

The FTSE 100 fell over one per cent on Thursday with afternoon gains wiped out by a closing slump.

The index closed down 1.17 per cent – or 60.10 points – to 5,079.27.

Yet again, the index was mirroring activity in New York.

While the Dow started firmly, it dropped at 10:00 EDT.

At 11:38 EDT (16:38 BST) the index was down 0.56 per cent to 9,694.06.

The S&P 500 in Chicago dropped close to one per cent.

Leading the gains in London was Autonomy – up 3.01 per cent – on rumours of a takeover bid from Microsoft.

Insurer Old Mutual gained 2.61 per cent, Carnival gained 2.35 per cent, Intertek rose 2.09 per cent and British Sky Broadcasting climbed 0.99 per cent.

Heading the drops was Wolseley – down 4.46 per cent.

British Airways fell 4.31 per cent, Land Securities lost 3.85 per cent, Rexam slid 3.86 per cent and Hammerson lost 3.86 per cent.