(Sharecast News) - London stocks had tumbled on Friday after news that Russia had seized a nuclear power plant in Ukraine after shelling it overnight.

The FTSE 100 was down 3.48% or 251.71 points at 6,987.14, while the second-tier index surrendered 3.45% to see the week out from 19,387.68.

Sterling meanwhile lost 1.0% against the US dollar to 1.3214.

The Zaporizhzhia Nuclear Power Plant in Ukraine was seized by Russian forces after Russian shelling sparked a fire overnight.

Neil Wilson, chief market analyst at Markets.com, said Europe had woken up "to the dire situation in Ukraine".

"Shelling led to a fire at Europe's largest nuclear facility. The fire is now extinguished, it seems, and the facility in Russian hands. US energy secretary Jennifer Granholm said there were no signs of increased radiation levels and reactors are being shut down safely," he said.

"Nato meeting today is underway, the alliance reiterating its defensive posture, is not involved in the conflict. Oil prices are well down from yesterday's high but susceptible to severe dislocation at any point, yields are back up and we may be starting to see signs of that dollar squeeze I'd called for on Sunday with the dollar index breaking above 98 this morning, its highest in almost two years."

US jobs date showing a far better-than-expected 678,000 rise in non-farm payrolls during the month February may have helped steady nerves a little.

Nonetheless, investors were likely eager to take some risk off the table ahead of what could easily turn out to be another weekend of disturbing headlines.

In equity markets, Burberry was the worst performer on the FTSE 100, followed by packaging specialist Smurfit Kappa and building materials company CRH.

Airlines were under the cosh, with BA and Iberia owner IAG, Wizz and easyJet all sharply lower. Other travel-related shares also sank, with cruise operator Carnival, travel firm Tui and Upper Crust owner SSP down.

Broadcaster ITV was knocked lower by a downgrade to 'equalweight' from 'overweight' at Barclays, having already fallen heavily on Thursday after results.

Government contractor Mitie slid after the UK's competition regulator launched a probe into the company over possible law breaches involving contracts for immigrant removal centres.

On the upside, Morgan Advanced Materials surged after saying it swung to a full-year pre-tax profit as demand recovered strongly across the global economy.

Hammerson gained after the retail property owner reported a rise in full-year adjusted earnings as the easing of Covid restrictions saw a rebound of footfall to its shopping centres.

Gold miners shone, with Fresnillo, Hochschild and Centamin all higher. Russian steelmaker Evraz was the standout performer on the top-flight index after recent sharp declines. Polymetal however was left out of the buying with its stock finishing down 5%.

Market Movers

FTSE 100 (UKX) 6,987.14 -3.48%
FTSE 250 (MCX) 19,387.68 -3.45%
techMARK (TASX) 4,094.90 -3.35%

FTSE 100 - Risers

Evraz (EVR) 68.80p 12.99%
Fresnillo (FRES) 743.20p 8.61%
London Stock Exchange Group (LSEG) 7,254.00p 3.87%
SSE (SSE) 1,595.00p 1.88%
Hargreaves Lansdown (HL.) 1,010.50p 1.50%
Avast (AVST) 638.20p 1.21%
Severn Trent (SVT) 2,863.00p 0.38%
Croda International (CRDA) 7,012.00p 0.34%
United Utilities Group (UU.) 1,046.00p 0.14%
National Grid (NG.) 1,107.80p -0.25%

FTSE 100 - Fallers

Burberry Group (BRBY) 1,644.50p -8.38%
Smurfit Kappa Group (CDI) (SKG) 3,048.00p -8.03%
CRH (CDI) (CRH) 3,004.00p -7.74%
Flutter Entertainment (CDI) (FLTR) 7,988.00p -7.41%
BT Group (BT.A) 167.45p -7.28%
Barclays (BARC) 156.98p -7.19%
Electrocomponents (ECM) 885.50p -6.99%
Intermediate Capital Group (ICP) 1,435.00p -6.93%
JD Sports Fashion (JD.) 131.55p -6.74%
Melrose Industries (MRO) 121.30p -6.62%

FTSE 250 - Risers

Morgan Advanced Materials (MGAM) 315.00p 12.30%
ICG Enterprise Trust (ICGT) 1,130.00p 4.70%
Petropavlovsk (POG) 1.88p 4.44%
Drax Group (DRX) 678.50p 4.23%
Hochschild Mining (HOC) 121.00p 4.12%
Centamin (DI) (CEY) 102.80p 2.59%
Pennon Group (PNN) 1,034.00p 2.48%
Endeavour Mining (EDV) 1,995.00p 2.31%
TP Icap Group (TCAP) 112.90p 1.99%
Vivo Energy (VVO) 136.80p 1.63%

FTSE 250 - Fallers

Ferrexpo (FXPO) 119.00p -17.19%
Auction Technology Group (ATG) 791.00p -16.17%
TBC Bank Group (TBCG) 971.00p -13.98%
Provident Financial (PFG) 242.80p -13.04%
Pagegroup (PAGE) 451.00p -12.51%
Watches of Switzerland Group (WOSG) 987.00p -10.92%
Mitie Group (MTO) 47.35p -10.66%
Network International Holdings (NETW) 172.05p -9.73%
Weir Group (WEIR) 1,429.00p -9.73%
Oxford Instruments (OXIG) 2,280.00p -9.52%