Bloomberg News

U.K. Stocks Extend Declines on U.S. Manufacturing; AZ Plunges

June 01, 2011

June 1 (Bloomberg) -- U.K. stocks extended their losses after a report showed that U.S. manufacturing grew at the slowest pace in more than a year, falling short of the average of economists’ estimates.

AZ Electronic Materials SA slumped 8.3 percent, leading a retreat on the FTSE 250 Index, as funds managed by Carlyle Group and Vestar Capital Partners sell 80 million shares. Hammerson Plc climbed 1.3 percent after the property developer was raised to “overweight” at Morgan Stanley.

The benchmark FTSE 100 lost 51.95, or 0.9 percent, to 5,938.04 at 3:20 p.m. in London. The FTSE All-Share Index slid 0.8 percent. Ireland’s ISEQ Index advanced 0.3 percent.

To contact the editor responsible for this story: Will Hadfield at whadfield@bloomberg.net


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