LONDON (AFP) - London shares slumped for the third day in a row on Thursday, pulled down by losses for retailers and banks as the global economic outlook turned darker still.

London's FTSE 100 index of leading shares shed 0.89 percent to finish at 5,318.40.

Vodafone was the most traded stock, seeing 164 million units change hands, followed by Royal Bank of Scotland Group, which saw 127 million shares switch owners.

The day's biggest loser was William Morrison supermarkets, down 16.50 pence -- or 6.11 percent -- to close at 253.75.

It was followed by Sainsbury, which lost 21.75 pence -- or 5.93 percent -- to close at 345.25.

Financial stocks including HBOS, RBS, Barclays and HSBC also fared badly as economic concerns were stoked further after ailing US investment bankLehman Brothers failed to reassure investors over its future on Wednesday.

On the upside, miner Anglo American was the day's top performer, up 113 pence -- or 5.15 percent -- to close at 2308.

It was followed by BG Group, which gained 45 pence -- or 4.27 percent -- to close at 1100.

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