FTSE 100 CLOSE: RSA drops to bottom on broker downgrade

RSA Insurance was the biggest faller at the close of trading as its share price slipped 7.5% to 107.1p, following a downgrade note from Panmure Gordon.

The sell note forced the insurer lower on its ex-dividend day, as Lloyd’s of London warned of the need for rates to harden as it announced losses of more than £500m in 2011.

Global growth concerns saw Vedanta Resources and steelmaker Evraz both drop 5.5% to 1,232p and 359.8p, respectively.

Miner Antofagasta dropped 5.4% to 1,118p, while Mexican silver miner Fresnillo slipped 4.1% lower to 1,609p.

The biggest riser at close was Premier Inn owner Whitbread, which saw share price increase by 2.2% to 1,849p.

Business software company Sage rose 1.6% to 299.7p, while biopharmaceutical company Shire climbed 0.8% higher to 2,140p.

International Power finished 0.7% higher at 382.6p.