The FTSE 100 Index was down 40.40 points, or 0.7%, to 5,857 points today as miners fell on lower metal prices and blue chips were hit by profit taking.
Rio Tinto fell 2.19% to 2,630p and BHP Billiton was down 3.06% at 934.50p. The property market also took a bashing after a raft of real estate stocks were downgraded by Merrill Lynch.
Liberty International dropped 2.56% to 1,104p, Great Portland Estates fell 3.63% to 458.50p and Unite was 5.66% lower at 425p.
Land Securities also fell 2.18% to 1,842p, while British Land dropped 2.78% to 1,222.50p.
Broker notes also had a negative impact on BT, which was downgraded to sell by ABN Amro as the Dutch broker downplayed recent bid speculation. BT's shares fell 0.86% to close at 229.75p.
Insurance broker Jardine Lloyd Thompson slumped 15.73% to 375p after a 20% fall in 2005 profit due to competitive pressure and currency effects. The company is also uncertain over 2006.
Meanwhile, car insurer Admiral gained 2.21% to 590.75p after it reported core profits for the year rose 21%.
In the US, the Dow Jones industrial average is up 5.61 points, or 0.05%, at 10,964.20 points as investors seek out large-capitalization stocks amid fear of higher interest rates.IFAonline
‘Most significant’ upgrade since launch
Changes happening over coming months
Had accepted British Steel business
Aimed at HNW clients and family groups
Set for 1 April 2019