A slide on Wall Street dragged the FTSE 100 lower in late trading; the index closed the week down 55 points, 0.83%, to 6585.2.
Cable and Wireless struggled on news it is to be sued by Digicel, for allegedly impeding its entry into Caribbean telecommunications markets.
C&W closed the day down 6.8 points, or 3.60%, to 182.
ICAP also had a tough day, the specialist intermediary broker lost 15.5 points, or 3%, to 500.5.
Friends Provident led the gains by a substantial margin, speculation Axa may bid for the French group led to an increase of 7.6 points, or 4.25%, to 186.4.
An HSBC upgrade to 'neutral' from 'underweight', has led to gains for BAE Systems this afternoon.
The defence giant closed up 6.75%, or 1.60%, to 428.
In New York, the Dow Jones suffered major losses due to poor results from Google and Caterpillar, down 124.54 points, or 0.89%, to 13,875.87.
Merck made the biggest gains, up 0.49, or 0.99%, to 49.83, followed by Boeing, up 0.84, or 0.82%, to 103.32. Honeywell shares gained 0.48, or 0.79%, to 61.46, Verzion was up by 0.11, or 0.26%, to 42.37, and Pfizer shares climbed by 0.06, or 0.24%, to 25.05.
Poor half yearly stats had a negative effect on Caterpillar shares, down 8.1, or 9.31%, to 78.88. Alcoa shares fell by 1.52, or 3.41%, to 43.1, and Microsoft shares lost 0.54, or 1.71%, to 30.97.
To comment on this story, contact:
0207 034 2681
Less environment, more governance threatens to undermine firms' green credentials
Evidence your compliance
Quarter of single pensioners dependent on state