FTSE down 1.5%

Fears that the European Central Bank will fail to prescribe the medicine needed for the ailing eurozone triggered big losses on London's leading shares index today.

The FTSE 100 Index closed 1.5% or 86.4 points lower at 5672 ahead of the ECB's policy announcement on Thursday, despite encouraging comments from ECB President Mario Draghi yesterday that buying certain government bonds would fall within the bank's mandate.