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According to Reuters, the leading index on the British stock exchange made the drop of 38.53 points at 5,642.30 just after midday due to fears the eurozone debt crisis may get worse.
The index has neared a six-week low with banks and miners the worst affected.
In addition, the biggest decreases for financial organisations came from Barclays, Standard Chartered and the Lloyds Banking Group, as they fell between 0.8 per cent and 1.7 per cent.
John Haynes, head of research at Rensburg Sheppards, said despite all the provocation equities are holding up "remarkably well" and he added: "There's a recognition that there is the will to solve [Europe's debt] problems."
This comes after the FTSEurofirst 300 was down 0.7 per cent yesterday in spite of increased speculation a package to save Ireland was being compiled.
Posted by Clive Arneil
