LONDON - Britain's top share index dipped 0.48 percent, with banks and miners taking a lashing as investors worried about higher interest rates and how a troubled US subprime mortgage market may hit the US economy. The FTSE 100 closed down 31.7 points, at 6,527.6 but was well off its day's low of 6,496.4. The UK benchmark index has lost 1.4 percent so far this month.ROUNDUP:EUROFIRSTEUROPE - European shares ended at their lowest close in two weeks, weighed down by banks and miners, as worries about the impact of the US mortgage market on the broader economy knocked investor sentiment.

British mortgage bank Northern Rock was the top loser in Europe after cutting its 2007 profit forecast, while Gaz de France rallied on expectations its merger with Suez could soon be completed.

The FTSEurofirst 300 index of top European shares fell for the fifth consecutive session, closing down 0.5 percent at 1,579.5 points at its lowest finish since June 12.ROUNDUP:EUROmarketsFRANKFURT - The DAX index ended at 7,801.23 points, down 59.29 or 0.75 percent.

PARIS - The CAC-40 index closed at 5,941.67 points, down 11.69 or 0.20 percent.

ZURICH - The Swiss market index closed at 9,025.82 points, down 47.51 or 0.52 percent.

MILAN - The All Share Mibtel index closed at 32,491 points, down 117 or 0.36 percent.ROUNDUP:nikkeiTOKYO - The Nikkei average fell for the fourth straight session, marking its longest losing streak in more than three months, as exporters such as Canon were hit by concerns about overseas markets and further rises in the yen. The Nikkei slid 1.20 percent, or 216.83 points, to close at 17,849.28.ROUNDUP:hang sengHONG KONG - Blue chips fell 0.45 percent, tracking weak equity markets worldwide, as worries about the US subprime mortgage market weighed on global lender HSBC Holdings and lower crude prices prompted profit-taking in oil stocks. The benchmark Hang Seng Index closed down 98.01 points at 21,705.56.ROUNDUP:asxSYDNEY - Shares slid 1.97 percent, posting the biggest one-day percentage fall in over three months as worries about a sluggish US economic outlook hit US-exposed firms while resource stocks fell on weaker metal and oil prices. The benchmark S&P/ASX 200 index dropped 124.4 points to close at 6,184.2.ROUNDUP:south africaJOHANNESBURG - Mining and resource stocks, led by Anglo American, dragged South Africa's blue-chip Top-40 index 1.62 percent lower on Wednesday as lower metal prices and fears about US economic growth scared off investors. The All-share index closed at 28,285.1 points, down 461.33 or 1.60 percent. The All Gold index closed at 2,498.51 points, down 39.48 or 1.56 percent, while the Industrial index closed at 19,402.56 points, down 167.65 or 0.86 percent.