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FTSE 100 Index

Last Updated at 23 Feb 2018, 16:36 GMT *Chart shows local time FTSE 100 intraday chart
value change %
7244.41 -

Top winner and loser

BT Group

244.05 p +

International Consolidated Airlines Group SA (CDI)

587.20 p -
value change %

FTSE 250 Index

19801.05 +

FTSE 350 Index

4039.88 -

FTSE All Share Index

3991.50 -

FTSE Techmark Index

4409.24 -

(Close): UK stocks fell on Wednesday, falling in the afternoon as Wall street opened sharply lower.

The FTSE 100 closed down 66.56 points, or 0.99%, to 6,639.71.

The biggest faller was the stockbroker Hargreaves Lansdown. Shares fell 4% after an investment bank downgraded its rating on the firm.

A surge in the value of the dollar hit commodity-related stocks. Among the mining firms Fresnillo fell 3.5% and Anglo American was down 3.7%.

The dollar has strengthened as markets bet that the recovery in the US will see interest rates rise next year.

Meanwhile, the anaemic growth seen in the eurozone means the European Central Bank is likely to have to continue supporting the currency bloc for some time to come.

The euro fell to $1.27440, and the dollar hit four-year high against a basket of currencies. The pound fell 0.22% against the dollar to $1.6303

Among commodities, Brent crude oil fell 10 cents to $96.85 a barrel while US crude dipped 5 cents to $92.75.

On the London stock market, shares in Direct Line Insurance rose 0.47% after it announced the sale of its international division.

Spanish insurance company Mapfre has bought Direct Line's Italian and German businesses for 550m euros (£430.5m).

In the FTSE 250, pub group Mitchells & Butlers sank 7.9% after it said trading conditions last month had been "difficult".

The company said "consumers remained cautious about spending and rainfall was significantly higher than last year".

Like-for-like sales at M&B were up 0.1% in the nine weeks to 20 September.