FTSE down 94.3 points

Heavy profit taking in the mining sector, combined with weaker oil stocks, saw the London market end the week deep in the red today.

Gains for banks and retailers could do nothing to halt the decline caused by their heavyweight rivals, with miners taking the fallers' board's top six positions.

The selling mood was helped by hefty opening falls on Wall Street, with the FTSE 100 Index closed 94.3 points down, or 1.5%, at 6087.3.

Kazakhmys led the mining sector's declines as traders cashed in after several months of strong rises on the back of booming commodities such as copper and gold. Its shares were off more than 5%, or 99p at 1678p. Rio Tinto and Antofagasta were close behind, shedding 370p to 6299p and 38.5p to 693.5p respectively.

A retreat for oil prices from their US$135 a barrel high yesterday saw oil giant BP lose some ground, down 16.5p at 630p. Fellow prospector BG Group was also on the back foot, down 37p to 1310p.

Oil's ease failed to help travel firms and airlines however, which found themselves under pressure once again amid the high prices. FirstGroup slid 2%, or 12.5p to 511.5p, while British Airways dropped 5.75p to 206.5p.

In the FTSE 250, budget carrier easyJet was another airline casualty of the session, with shares down 13.75p at 265.75p.

The sector's woes were compounded by news that business-class only carrier Silverjet had asked to suspend its shares after a vital cash injection had failed to come through, leaving it forced to find alternative funding "as a matter of urgency".

Meanwhile, retail shares bounced back from early falls seen after John Lewis said sales declined for a second successive week, down 1.8%. Supermarkets and DIY retailers bucked the gloom, with Sainsbury's ahead 2.7p at 140p after a broker upgrade. B&Q parent Kingfisher was also on the risers board, up 3p at 140.3p.

Among banks making gains were Lloyds TSB and Royal Bank of Scotland - up 3.75p at 395p and 2p at 246.75p - in a positive session for the embattled sector.

Bradford & Bingley in the FTSE 250 also enjoyed a reversal of recent fortunes, ahead 1.5p at 103p.

Elsewhere, shares in telecoms firm Cable & Wireless lifted 4%, or 6.4p to 163p, as investors tuned into the prospect of a possible demerger.

Second-tier pub and brewer Marston's rose nearly 3%, or 5.75p to 220.25p, after pleasing the market with "resilient" full-year results. It reported a 16% drop in underlying pre-tax profits, but said underlying earnings rose 1.8% despite cost pressures, the effects of the smoking ban and the British government's move to increase tax on alcohol.

The Footsie's four biggest risers were Cable & Wireless up 6.4p to 163p, Capita Group up 14p to 674p, ITV up 1.2p to 59.1p and Kingfisher up 2.7p to 140p.

The four biggest fallers were Kazakhmys down 99p to 1678p, Rio Tinto down 370p to 6299p, Antofagasta down 38.5p to 693.5p, and Anglo American down 171p to 3372p.