FTSE: 5,963.80 (–46.64) Mid-250: 11,603.19 (–12.58) Small-Cap: 3,267.89 (+7.15)BRITAIN'S TOP share index fell yesterday, led by Reckitt Benckiser after the company said its chief executive was retiring, and with banks weaker on renewed worries about sovereign debt levels.

The FTSE 100 fell 46.64 points, or 0.8 per cent, to 5,963.80, its lowest close since March 31st.

Volumes were 83.5 per cent of the average for the past 90 days, with some investors remaining cautious until more US companies report first-quarter earnings.

“A bit of risk has been coming off the table in the past week. A lot of the big strategists have become more cautious, though it’s more tactical than fundamental, at the start of US reporting season,” said James Buckley, fund manager at Baring Asset Management.

Banks suffered, part of a sectoral sell-off in Europe, as mounting worries over a debt restructuring by overborrowed Greece drove credit default swaps and yields on government paper higher.

Michael Hewson, market analyst at CMC Markets, pointed to the sector suffering “after the IMF warned that global banks will need to raise an incredible $3.6 trillion worth of debt in the next two years, as they compete with indebted sovereigns”.

Barclays, HSBC, Lloyds and Royal Bank of Scotland fell between 1.1 and 2.3 per cent.

Barclays Capital cut its target price on Lloyds and kept its “underweight” rating on the bank, saying the UK’s Independent Commission on Banking’s stance on Lloyds “will further dilute returns”.

Consumer goods group Reckitt Benckiser fell 7.5 per cent after the firm said chief executive Bart Becht is to retire, six months after announcing the departure of its chief financial officer.

Miners lost ground, with some base metal prices slipping, as investors shied away from riskier assets.

Oil heavyweight BP fell 0.9 per cent. BP and Russia’s Rosneft appear to have few options left to salvage a $16 billion share swap deal after trying unsuccessfully to buy out BP’s partners in its Russian venture TNK-BP.

Newspaper, books and station- ery retailer WH Smith rose 5.4 per cent after posting a 3 per cent rise in first-half profit and hiking its dividend as higher profit margins offset lower sales.

Supermarket heavyweight Tesco was flat, ahead of its results on Tuesday. – (Reuters)