Banks, retailers weigh on FTSE

The benchmark index dropped below 5,800, to 5,756.9, giving back 105.02 points. The FTSE 250 also fell by almost 2% to 9,534.8. Persimmon was the day’s biggest blue chip decliner, losing 8.1%, followed by London Stock Exchange, down 7.1%, and Next, down 5.7%. Shares in Marks & Spencer fell more than 5%. Woolworth’s was another loser, with chief executive Trevor Bish-Jones falling on his sword after the ailing retail chain reported a 2.2% fall in like-for-like retail sales in the 19 weeks to 14 June, and a drop in group sales of almost 2%. The shares ended the day 5.2% lower at 9.27p...