Headline shares closed the FTSE session firmly lower, with losses wide-ranging and gainers largely driven by broker comment, with chipmaker ARM Holdings topping the blue chip leaderboard. At the close of business, the FTSE100 was down 58.1 points at 5,665.33 (INDEXFTSE:.FTSE), with the FTSE250 off 33.54 points at 10,435.61 and the FTSE Smallcaps 46.76 points lower at 2,925.93. US stocks were sharply lower in late morning trade after a slew of disappointing company outlook statements. Approaching the close in London, the Dow Jones Industrial Average was down 90 points at 11,035, the S&P500 fell 11 points at 1,195 and the Nasdaq Composite dropped 19 points at 2,485.

LONDON MARKETS

Trade in London was cautious, following fresh concerns over the Greek financial tragedy, with sentiment also hit by news that the UK budget deficit is 75% higher than a year ago. A sharp fall in New York this afternoon added to the downbeat mood. Vedanta Resources (LON:VED) was one of only two miners to make progress, adding 6p at 2,680p on being upgraded to buy from hold at Citigroup. The other winner was Randgold Resources (LON:RRS) up 5p at 5,080p, with gold hovering around the $1,136 an ounce mark. Anglo American (LON:AAL) slipped 14p at 2,800p, after a bright start, on reporting a 23% increase in iron ore production and a 7% increase in copper output. Xstrata Plc (LON:XTA) fell 17p at 1,148p and Lonmin (LON:LMI) lost 49p at 1,929p. Oil producers were lower as crude slid below $83 a barrel, with BP (LON:BP.) off 11.8p at 636.4p, Shell 25p lower at 1,895.5p and Tullow Oil Plc (LON:TLW) down 33p at 1,220p.

Banking issues were weak throughout, sentiment dented by disappointing numbers from Credit Suisse this morning. Royal Bank Of Scotland Group Plc (LON:RBS) lost 0.2p at 53.85p, Barclays (LON:BARC) was down 6.15p at 359.7p, Lloyds Banking Group (LON:LLOY) lost 0.7p at 66.48p and HSBC fell 4.6p at 677.4p. Insurers were on offer, with Prudential (LON:PRU) the weakest of them, down 19p at 545.5p. Aviva (LON:AV.) fell 11.7p at 374p and Legal & General Group (LON:LGEN) edged down 2.25p at 89p.

Commercial property firms gave back yesterday's gains and more, with Land Securities Group Plc (LON:LAND) off 12p at 659.5p. British Land fell 8.3p at 472.8p, while Liberty Plc (LON:LBE)…

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