By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- U.K. stocks fell Thursday as a profit
warning from British Gas's parent company weighed on its shares,
while miners declined after a lackluster update on China's
manufacturing sector.
The benchmark FTSE 100 index lost 0.4% to 6,689.45, with losses
accelerating as the broader European market fell after the release
of lower-than-expected economic data from Germany and France.
Centrica PLC shares fell 1.2% after the utilities company said
it now expects full-year adjusted earnings of 19 pence to 20 pence
a share, down from a previous expected range of 21 pence to 22
pence. Mild weather in the U.K. and trading conditions for British
Gas Services are among the factors driving the profit forecast
lower, the company said.
Pressure was on mining stocks as activity in China's
manufacturing sector slowed in November, according to a closely
watched report from HSBC, adding to worries about growth for a key
buyer of metals. Rio Tinto PLC (RIO) shares fell 2%, BHP Billiton
PLC (BHP) lost 1.8%, and Fresnillo PLC dropped 2.1%.
The HSBC China Manufacturing Purchasing Managers Index fell to
50.0 in November, compared with October's final reading of
50.4.
Outside of the FTSE 100, Mothercare PLC shares climbed 2.7%,
with the baby products retailer swinging to a half-year profit.
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