Update: Only handful of winners as FTSE falls below 5,000

The UK's index of 100 leading shares fell 2.76% to below 5,000 this morning, as global markets showed no signs of shaking off fears the West is heading back into recession.

There were only a handful of winners by 11am with the FTSE down 140.73 points to 4,951.50. Software firm Autonomy was the main bright spot, up 75%, after it agreed to be bought by US giant Hewlett-Packard for £7.1bn ($11.7bn). Tullow Oil, Lloyds and GKN were amongst the biggest losers today. America's index of leading stocks closed lower last night, amid a global sell-off sparked by another round of weak economic data and increased fear about the eurozone debt crisis, while the FTSE 100 dropped sharply on opening today. The Dow Jones Industrial Average closed down 3.68% or 419.63 p...