Footsie heading towards four-month low

The FTSE 100 Index is nearing a four-month low at mid-morning, falling 46.8 points to 5026.5.

Sentiment is being hurt by falls in the US overnight, where the Dow Jones, Nasdaq and S&P all slid as investors took profits. A warning of lower revenues from fibre-optic maker Ciena also affected the mood.