Bloomberg News

U.K. Stocks Extend Losses on U.S. Manufacturing Report

September 04, 2012

U.K. stocks extended losses after data showed U.S. manufacturing contracted last month, fueling concern the economic recovery is slowing.

The benchmark FTSE 100 Index dropped 1.5 percent to 5,671.53 at 3:08 p.m. in London.

The Institute for Supply Management’s U.S. factory index fell to 49.6 in August from 49.8 a month earlier. Economists in a Bloomberg survey projected an August reading of 50, which is the dividing line between expansion and contraction.

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