The FTSE 100 closed down 0.3% at 5,251 on Friday - its fourth day of losses in a row - to record a fall of 0.8% for the week. Lower crude oil prices dented energy stocks, with Royal Dutch Shell losing 1.1% and BP down 0.4%.
Miners also suffered, with Kazakhmys, ENRC, Rio Tinto, Vedanta and BHP Billiton all slipping. But precious metals miners had a better day, with Randgold up 1.3%. Banks were also in the firing line.
Biggest losers of the day were travel firms Thomas Cook, down 4.3%, and TUI Travel, which fell 4%, after having their rating downgraded by Morgan Stanley.
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Defensive stocks were up, however: drugmakers GSK and Shire rose 1.1% and 1.4% respectively, while Vodafone added 0.4%.
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Europe
In Europe, the Paris CAC fell 31 points to 3,729; and the German Xetra Dax was 39 points lower at 5,663.
US
On Wall Street, the Dow Jones Industrial Average fell 0.1% to 10,318; the S&P 500 lost 0.3% to 1,091; and the Nasdaq Composite was 0.5% lower at 2,146. Over the week, the Dow is up 0.5%, the S&P is 0.2% lower and the Nasdaq down 1%.
Asia
In Asia, Japan's markets are closed for a holiday. In China, the Shanghai Composite rose 0.9% to 3,338; and the CSI 300 added 1% to 3,665.
Commodities
Brent spot was trading at $77.29 early today, and in New York, crude oil was at $78.36. Spot gold was trading at $1,166 an ounce; silver was at $18.79 and platinum was at $1,469.
Currencies
In the forex markets this morning, sterling was trading against the US dollar at 1.6581 and against the euro at 1.1069. The dollar was trading at 0.6678 against the euro and 88.98 against the Japanese yen.
UK news
And today, the Confederation of British Industry (CBI) has said that Britain's companies are likely to change the way they raise money in the wake of the credit crisis. In a survey ahead of this week's CBI conference, 50% of firms questioned said they will reduce their reliance on banks for funding. CBI director general Richard Lambert said: "What we now need is a more balanced, less risky pathway to growth one in which the short-term returns may be lower, but the long-term rewards for management success will be a lot more sustainable and secure."
