UK’s FTSE 100 index fell on Wednesday’s trading session in reaction to Bank of England’s concerns over the UK’s economic outlook. In a recent statement BOE’s Governor, Mervyn King expressed his deep concerns over the country’s economic situation and commented, “U.K. growth over the next few quarters will be markedly weaker than in the August projection.”

The FTSE 100 index declined 0.2 percent to 5,509.02 on Wednesday while the European stock index remained unchanged after a volatile session. The recent news of record increase in unemployment rate to 8.3 percent since 1996 also further disappointed stock traders.

ICAP Plc declined 4.7 percent in today’s session. In banking sector Standard Chartered Plc dropped 1.9 while Lloyds Banking Group PLC fell 1.3 percent. Royal Bank of Scotland also slipped 0.6 percent today.

Reed Elsevier declined 2.4 percent after reporting increase of 1 percent increase in its sales for the period of nine months.

The gainers included Petrofac Ltd reporting an increase of 1.9 percent while BP PLC gained 1.6 percent for the day. Cairn Energy PLC jumped 2.4 percent in reaction to buy recommendation rating by Societe Generale.