FTSE 100 suffers biggest fall of the year on Tuesday

FTSE 100 Index, the British benchmark stock market gauge, plunged by 2.52 percent, or 173.63 points, to 6,702.84 on Tuesday.

The London stock index recorded the biggest one-day fall of the year, due to sharp losses in energy and mining sectors.

The energy sector slumped as oversupply and weak demand pushed Brent crude oil futures down. The Brent crude oil future price fell 3.6 percent to 56.44 U.S. dollars a barrel during Tuesday's trading session, data from BBC showed.

Energy giants BG Group and Tullow Oil both fell over 7 percent each, while heavyweight producers Shell and BP dropped 4.83 percent and 3.95 percent respectively.

Besides, the mining sector also dragged the index down on account of the weaker metal prices. The share prices of Antofagasta, Anglo American and Fresnillo all declined.

Standard Life's share price increased by 0.98 percent, topping the gainers of the blue chips. Shire, easyJet and BAE Systems increased by 0.67 percent, 0.65 percent and 0.09 percent respectively.

BG Group led the top losers of the blue chips with a share price drop of 7.40 percent, followed by Tullow Oil (7.02 percent), Antofagasta (5.51 percent), Anglo American (4.96 percent) and Royal Dutch Shell 'B' (4.83 percent).

The index has gained 2.91 percent so far this year when measured in U.S. dollars. Endit