FTSE dives 8% on growth fears; banks, commods sink

* FTSE 100 slumps 8.2 pct by midday

* Financials top-weighted losers

* Commodity stocks down on global recession fears

(For more on the financial crisis, click on [nCRISIS])

By Dominic Lau

LONDON, Oct 10 (Reuters) - Britain's top share index slid 8.2 percent by midday on Friday in a global sell-off in equities as investors feared government efforts to unclog liquidity strains would not avert a global recession.

By 1035 GMT, the FTSE 100 .FTSE was down 352.6 points at 3,961.2, below 4,000 for the first time in more than five years but above an early low of 3,874.0.

There was no gainer on the UK benchmark, which has lost more than 20 percent this week and is on track for its worst weekly loss since October 1987.

Banks were the top-weighted losers, with the FTSE 350 banks index .FTNMX8350 shedding more than 11 percent.  Continued...