LONDON’S blue chip index closed below the 5,000 mark for the first time in 15 months as a profits warning from Germany’s top bank hammered sentiment already shaken by Greek worries.

The FTSE 100 Index shed £34bn in value or 131 points at 4944.4, its lowest closing level since July 2010.

European markets and Wall Street also tumbled as investors digested Deutsche Bank’s warning that third-quarter earnings would be substantially lower than expected.

A decision by EU finance ministers to make Greece wait until November for its next bailout instalment added to the gloomy mood.