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| Direct Line drags FTSE 100 down 1.8% | |
| (35 minutes later) | |
| (Close): London's leading shares closed almost 110 points lower on Thursday, with insurer Direct Line leading the slide with a 9% fall. | (Close): London's leading shares closed almost 110 points lower on Thursday, with insurer Direct Line leading the slide with a 9% fall. |
| Losses mounted in late trading to leave the FTSE 100 1.8% lower at 6,036.7 points. | Losses mounted in late trading to leave the FTSE 100 1.8% lower at 6,036.7 points. |
| Direct Line was one of several companies going ex-dividend, along with BHP Billiton, which fell 4.9%. | Direct Line was one of several companies going ex-dividend, along with BHP Billiton, which fell 4.9%. |
| Supermarket chain Morrisons, which recently returned to the FTSE 100, was another big faller, shedding 4.5%. | Supermarket chain Morrisons, which recently returned to the FTSE 100, was another big faller, shedding 4.5%. |
| The decline came after the retailer posted a further drop in annual profits as a result of the price war in the supermarket sector. | The decline came after the retailer posted a further drop in annual profits as a result of the price war in the supermarket sector. |
| Shopping centre owner Intu Properties, a recent entrant to the FTSE, was the top riser, adding almost 1.5% to 299.8p. | Shopping centre owner Intu Properties, a recent entrant to the FTSE, was the top riser, adding almost 1.5% to 299.8p. |
| The company, whose centres include Lakeside in Essex and the Trafford and Arndale centres in Manchester, is worth just over £4bn. | The company, whose centres include Lakeside in Essex and the Trafford and Arndale centres in Manchester, is worth just over £4bn. |
| On the FTSE 250, estate agent Savills rose 5.2%, while OneSavingsBank was the biggest faller, losing 7.8%. | On the FTSE 250, estate agent Savills rose 5.2%, while OneSavingsBank was the biggest faller, losing 7.8%. |
| On the currency markets, the pound rose 0.6% against the dollar to $1.4301, but tumbled 0.9% against the euro to €1.2810. | On the currency markets, the pound rose 0.6% against the dollar to $1.4301, but tumbled 0.9% against the euro to €1.2810. |