FTSE flirts with 5,000 after early fall

The FTSE 100 has found support around the resistance level of 5,000 points as investors weigh up Greece's latest troubles.

The blue-chip index was down 100 points at 5,028, a drop of 2%, at 10:30 am BST, having earlier plunged to a low of 4,983. Banks and Burberry Group remain the biggest fallers, with RBS and Barclays down 4.7% and 5.8% respectively and the fashion house losing 5.5%. European indices are also off their lows for the day but remain sharply down, the Cac 40 off 2.5% at 2,908 in France, and Germany's Dax down 2.7% to 5,353. In Hong Kong, the Hang Seng closed down 4.4% at 16,822, its lowest level since May 2009. The Nikkei dipped 1.8% to 8,545.