FTSE closes down 5.5% for full year

A year to forget for investors ended today with London’s benchmark index 5.5% lower than its starting point in January.

With little news to drive volumes in the final session of 2011, the FTSE 100 Index drifted lower today before recovering to finish 5.5 points higher at 5572.3. That is well down on 2010’s close of 5899.9 after sentiment was rocked by double-dip recession fears and worries over Europe’s sovereign debt crisis.