Dubai shock waves shake London stock market

London, Nov 27 (DPA) The London Stock Exchange felt the shock waves of the Dubai World debt moratorium call Thursday, with the FTSE 100 index dropping 3.2 percent.

Banking shares were particularly hard-hit as the index closed at 5,194.13 points, down almost 171 points from Wednesday’s 5,364.81 points.

Barclays and the nationalised Royal Bank of Scotland both fell almost 8 percent in Thursday’s trading, which was also interrupted for some three hours by a technical breakdown. It was the second such major technical breakdown within 14 months on the London exchange.