FTSE 100 falls 0.7%

Britain\'s benchmark equity index fell for the third straight day on Wednesday to touch six-week lows, with investors anxious over the prospect of a forthcoming scaling back of U.S. monetary stimulus, Reuters reported. The market also took a technical hit as a clutch of companies including bank HSBC and Intercontinental Hotels began trading without entitlement to their latest dividend payout, automatically shaving more than 10 points off the index. The blue-chip FTSE 100 index was down by 0.7 percent, or 47.74 points lower, at 6,405.72 points at 1031 GMT. HSBC was hit additionally by its international exposure, with the rupee hitting an all-time low against the dollar as emerging markets bore the brunt of concerns over the stimulus programme, which has pushed down bond yields and helped to drive a global equity rally so far this year. Miners were the biggest sectoral fallers after ex-dividends were accounted for, dropping 1.5 percent on caution in demand for stimulus-sensitive copper and for safe-haven gold, which could lose its appeal if the dollar strengthens. Precious metal miners Fresnillo and Randgold fell 2.4 percent and 2.2 percent respectively, while copper-focused Rio Tinto fell 2.3 percent.