FTSE 100 extends losses on renewed eurozone concerns

Greece under pressure with bond yields jumping above 8%

London stocks took a fresh battering as today as concerns about the eurozone and flagging global growth remained to the fore.

The FTSE 100 — which fell nearly 3 per cent on Thursday — dropped another 1.8 per cent or 110.56 to 6101.08, dragging the benchmark index back to levels last seen in June 2013.

An attempted rally in London soon fizzled out as traders turned on Greece, pushing its cost of borrowing for 10 years shot above 8 per cent for the first time since February.

Bond dealers were spooked by the prospect of early elections and a poll lead for the left-wing Syriza party, stoking fears the depression-blighted nation could renege on bailout loans.

Investors unnerved by mounting evidence of sagging global growth were further shaken as Spain failed to sell the full €3.5 billion in debt it was aiming for at a bond auction today.

The slump in equity prices has forced a number of floats - including challenger bank Aldermore - to be pulled. Luxury shoemaker Jimmy Choo is pressing ahead with a launch but sources today said its stock market listing would be at 140p - the bottom of the range - valuing the firm at £546 million.