By Carla Mozee, MarketWatch

Next pops higher on sales update

U.K. stocks on Wednesday fell the most in nearly a month, hurt by heightened worries about global growth after a weak quarterly performance for the U.S., the world's largest economy.

The FTSE 100 dropped 1.2% to 6,946.28, and all sectors fell. It was the largest percentage loss since March 31, according to FactSet data.

Stocks across Europe and on Wall Street were hit after the U.S. Commerce Department said the economy grew at a 0.2% annualized pace (http://www.marketwatch.com/story/us-gdp-barely-grows-in-first-quarter-2015-04-29) in the first quarter, missing expectations for 1% growth. The quarter was marked in part by a surge in the U.S. dollar (DXY) that curbed American exports.

After the data, the pound (GBPUSD) bounced up to $1.5476, trading above $1.54 for the first time since March 4. The dollar recently has come off loftier levels as a slate of weaker-than-expected economic reports have pushed expectations for a U.S. interest-rate hike back to September. The Federal Reserve will release a monetary policy statement after the close of London trade, 2 p.m. Eastern Time.

The U.S. GDP report follows Tuesday's weaker-than-anticipated U.K. GDP data for the first quarter. The British economy expanded 0.3% quarter-over-quarter, and by 2.4% year-over-year. That was below forecasts of a 0.6% and 2.7% rise, respectively.

Although the pound has been benefiting from the dollar's losses, opinion polls tracking next week's U.K. general election suggest the race "is going to be extremely close, with this meaning that the GBPUSD will still be vulnerable to risks despite recent bullish momentum," wrote Alex Gurr, market analyst at FXTM, in a note Wednesday.

Stocks: The mining group moved lower, with an official at China's central bank reportedly saying the government isn't planning on launching a quantitative-easing program. The world's second-largest economy, a major buyer of metals and other commodities, has been grappling with an economic slowdown. Shares of Rio Tinto PLC (RIO) fell 2.2%, and BHP Billiton PLC (BHP) lost 1.2%.

Antofagasta shares fell 2.2% as the copper producer cut is full-year copper output guidance. (http://www.marketwatch.com/story/antofagasta-cuts-copper-view-after-protests-rain-2015-04-29)

Barclays shares reversed course and fell 1.7%, as the banking heavyweight said it would take a new GBP800 million charge (http://www.marketwatch.com/story/barclays-takes-new-800-million-forex-fine-charge-2015-04-29)in the first quarter for potential fines over its foreign-exchange activities. That move pulled net profit down to GBP465 million, compared with GBP965 million a year ago.

But shares of Weir Group PLC climbed 5.6% after first-quarter figures from the energy-engineering group came in above expectations. The firm also cautioned that it's "taking further actions to support profitability, including additional workforce reductions and service centre consolidations."

Shares of fashion retailer Next popped 1.7%. An early rollout of its summer lineup helped push full-price sales higher by 3.2% (http://www.marketwatch.com/story/next-beats-views-on-sales-helped-by-warm-weather-2015-04-29), better than had been expected.

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