Asset managers lead the fallers as FTSE sheds 100 points

London's leading equity index lost ground in afternoon trading, led by asset managers, as encouraging data from the services sector also failed to lift sentiment.

The data showed the UK's services sector posted the fastest rate of growth since March 2012 as the Markit/CIPS Services Purchasing Managers' Index (PMI) rose to 54.9 in May from 52.9 in April. The news did little to buoy the market, however, and the FTSE 100 had shed 100 points or 1.5% to stand at 6,460 by 14:45pm. Asset managers were among the heaviest fallers, with Aberdeen Asset Management 5.1% lower at 440.1p after UBS removed the stock from its 'key call' list. Henderson was also down 5.1% to 159.1p and Schroders was 3.7% off at £22.77 this afternoon. Meanwhile shares in super...