The FTSE 100's dismal week continued today as the UK's leading index fell to a four-month low, and remains on course to make a loss for the week.
The blue chip index was down 1% at 5,621 by mid-afternoon, its lowest level since 27 July, leaving it down 2.5% for the week.
That would represent the worst weekly fall since 20 May 2012, when the FTSE fell some 5.5%, and would leave the index up just 0.9% for 2012 as a whole.
The index was taken lower today by Melrose, the manufacturing buyout specialist, which said revenue trends have slowed and the sales outlook for 2013 has become more uncertain.
The stock dropped 13.6% on the news, making it the largest faller in the index. Elsewhere, Lloyds was also down 2.4% at 44.62p, as a broad-based sell-off took hold.
Shares in the US also continued to struggle, the S&P 500 and Dow Jones Industrial Average both dropping at the open by 0.3% apiece to 1,349 and 12,495 respectively.
The German Dax 30 dropped 0.7% to 6,992, while the French Cac 40 was off 0.4% at 3,369 points, as worries over conflict in the Middle East, the US fiscal cliff and the double-dip recession in Europe took hold.
Head of UK intermediary distribution
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