FTSE dives toward 5,000 as eurozone fears persist

The FTSE closed on Thursday deep in negative territory after German Chancellor Angela Merkel stepped up calls for tougher regulation of banks and financial markets.

In a key speech in Berlin earlier today, Merkel said governments of leading nations must act together and show a "signal of strength" by tightening financial rules. Her comments come a day after she warned the euro was "in danger" without strong action. "We need to have cooperation," she said. "[We can not say] 'this is not my problem, I don't care about it'." At close, London's leading index was down 84 points to 5,073. At  15.15 GMT, the FTSE had plunged 104 points, or 2.02%, to 5,053.  Eurozone fears continued to outweigh positive news from Dubai, where state-owned company D...