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FTSE 100 on track for worst year since 2008 – business live

Rolling coverage of the latest economic and financial news

9.16am GMT

Britain’s smaller share index, the FTSE 250, is also down this morning.

The FTSE 250 has dropped by 1% to 20,508, away from the 10-month highs seen earlier this week.

8.56am GMT

London’s stock market has got its New Year hangover in early.

The FTSE 100 has dropped by 101 points in early trading to 6454 points, its lowest level since 23rd December. Most stocks are in the red, as the market wraps up a tough year on a low note.

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