* FTSE 100 down 1 pct, near 4-month low
* Obama backs air strikes vs Islamist militants in Iraq
* Look to sell into strength on FTSE-Central Markets trader
By Sudip Kar-Gupta
LONDON, Aug 8 Britain's top equity index slid on
Friday to a near four-month low, as worries about conflict in
northern Iraq intensified after U.S. President Barack Obama
authorized air strikes against Islamist militants.
Obama said on Thursday he had authorized the air strikes to
blunt the onslaught of Islamist militants in northern Iraq and
began air drops of supplies to besieged religious minorities to
prevent a "potential act of genocide."
The development added to worries about conflict in Ukraine,
where Kiev's forces have clashed with pro-Russian separatists,
and elsewhere in the Middle East that have knocked back global
stock markets over the last month.
The blue-chip FTSE 100 index was down by 1 percent,
or 63.70 points, at 6,533.67 points - close to its lowest level
since mid-April. The FTSE 100 is down by 2.3 percent since the
start of 2014.
"The selling pressure just has not abated at all. At every
corner, it seems that something else comes out of the woodwork
that gives people another reason to sell," said Hantec Markets
analyst Richard Perry.
Perry said the FTSE could find buyers coming in if it fell
down to the 6,500 point level, which marked earlier lows this
year around March and April, after which the index recovered.
Central Markets trading analyst Joe Neighbour said the FTSE
could fall to 6,425 points if it failed to hold above 6,500
Neighbour said while the uncertainty over possible U.S.
military action in Iraq persisted, he would advise investors to
look to sell the FTSE on any rallies for a profit, rather than
use days when the FTSE fell to buy up shares.
"I would still look to sell into strength," he said.
(Editing by Janet Lawrence)