Commodity weakness drives broad FTSE fall
* Commodity stocks weakened by cheaper raw materials
* Broad retreat; drugmakers, life insurers lose ground * U.S. non-farm payrolls eyed
By Simon Falush
LONDON, July 2 (Reuters) - Britain's top share index fell 1.3 percent early on Thursday, as equities fell broadly, led lower by energy and mining stocks which fell on retreating commodity prices.
Energy companies, which gained the previous session tracking higher oil prices, turned tail as crude dipped back below $70 per barrel CLc1.
BP (BP.L: Quote, Profile, Research), Royal Dutch Shell (RDSa.L: Quote, Profile, Research), BG Group (BG.L: Quote, Profile, Research), Tullow Oil (TLW.L: Quote, Profile, Research) and Cairn Energy (CNE.L: Quote, Profile, Research) fell between 1.1 and 2.6 percent.
By 0747 GMT, the UK blue chip index was 61.08 points lower at 4,279.63 after closing 91.50 points higher on Wednesday at 4,340.71 on the first day of the new quarter.
"The market is finding it hard to gain any direction after the strong uplift in April and May," said Jeremy Batstone-Carr analyst at Charles Stanley. Continued...
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