After dropping 0.5% on Tuesday, UK FTSE 100 Index extended losses on Wednesday, giving up 0.7% to 5,714.8, pushed down by banking shares amid report showing country's GDP contracted 0.2% in 4th quarter. Royal Bank of Scotland Group PLC and Lloyds Banking Group PLC each dropped 3%, while Barclays PLC slipped 1.7%. On the upside were property stocks with Land Securities Group PLC adding 1.6% and Hammerson PLC climbing 1.3%. At the moment of writing UK benchmark index is 0.59% or 33.98 points down at 5,717.92.