London’s FTSE 100 index was down 1.5% to 6,204.27 at 1435 GMT as huge losses for Rolls-Royce weighed on the index. Shares in Rolls-Royce Royce tanked after the aerospace and engineering firm said earnings for the year will be at the low end of guidance as it downgraded its expectations for next year and warned of a possible cut to the dividend.