LONDON (AFP) - The FTSE 100 index of leading shares closed down on Thursday as a mid-day rally on stepped up government support for banks ran out of steam just before the close of trade.

London shed 1.21 percent to finish at 4,314 points.

Vodafone was the most traded stock, seeing 265 million units change hands, followed by the Royal Bank of Scotland which saw 248 million shares switch owners.

HBOS was the top riser, going up by 36.50 pence -- or 31.2 percent -- to finish at 153.5, followed by utilities Cairn Energy, climbing 248 pence -- or 18.2 percent -- to stand at 1609.

Among the losers were Barclays, falling 36.50 pence -- or 13.1 percent -- to finish at 1609. National grid was close behind, losing 55 pence -- or 8.27 percent -- to end at 610.

The pound was also down against its major rivals by 16:58 BST. The sterling slipped to 1.7212 US dollar from 1.7276 at Wednesday close. Compared to the euro the pound declined to 1.2610 from 1.2761.

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