FTSE ends down 1.2 pct on commods; defensives up
* Miners, oils the main drag on the index
* Sainsbury sinks after capital raising * Telecoms, drugmakers lend some support
By Dominic Lau
LONDON, June 17 (Reuters) - Britain's blue chip share index ended down 1.2 percent on Wednesday, as confidence of a quick global economic recovery ebbed, with commodity stocks down on weaker raw material prices but drugmakers and telecoms gaining.
The FTSE 100 .FTSE closed 50.11 points lower at 4,278.46, after putting on 0.1 percent on Tuesday to break a two-session losing run.
Volumes on the British benchmark were about 91 percent of its 90-day average daily volume.
"The key thing is that there is a complete lack of clarity as to the state of the underlying economy both here and in the America," said Tim Whitehead, head of portfolio strategist at Leeds-based Redmayne-Bentley.
"Although it would be nice to call a bottom of the economic nadir, we are not there yet. We have no evidence to support a sustained market rally from here." Continued...
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GLOBAL RECOVERY
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