FTSE 100 Falls for Second Day

Shares in London dropped for a second consecutive session on Wednesday, with the blue-chip FTSE 100 closing around the 7,500 mark, dragged by losses among heavyweight energy and materials stocks.

Investors have been growing worried about the implications of tighter financial conditions on the growth momentum and corporate earnings.

On the economic front, house prices in the UK tumbled 2.3% in November, the most since October 2008.

Rolls-Royce Holdings and Ashtead Group were among the biggest laggards on the index, down over 3% each.

On the flip side, GSK jumped 8% after being spared thousands of US lawsuits claiming that the heartburn drug Zantac caused cancer.