Special Report: Global Financial Crisis

    LONDON, Nov. 12 (Xinhua) -- The London Stock Market dropped by 1.52 percent at the close on Wednesday afternoon as investors' confidence was yet again dampened by Bank of England's prediction of a recession that might last one year.

    The benchmark FTSE 100 index ended down 64.67 points or 1.52 percent to 4,182.02, after the central bank said the British economy could shrink by 2 percent over 2009.

    Shares of the Man Group shed 23.39 percent, while Prudential lost 12.43 percent.