U.K. Stocks Little Changed Before Construction PMI Report

U.K. stocks declined, after the FTSE 100 Index (UKX) rose the most in a month, as investors awaited reports on Britain’s construction activity and U.S. factory orders.

ARM Holdings Plc, whose chip designs power Apple Inc.’s products, retreated 1.9 percent. Burberry Group Plc advanced 3.7 percent after HSBC Holdings Plc raised its recommendation on the shares. Glencore Xstrata Plc and BHP Billiton Ltd. paced gains among mining shares.

The FTSE 100 Index fell 17.91 points, or 0.3 percent, to 6,289.87 at 8:55 a.m. in London. The equity benchmark yesterday gained 1.5 percent, the most since May 28, as British manufacturing data beat estimates. The FTSE All-Share Index retreated 0.2 percent today, while Ireland’s ISEQ Index lost 0.1 percent.

A report at 9:30 a.m. in London may show a purchasing managers’ index of U.K. construction activity climbed to 51.2 in June, from 50.8 in May, according to the median estimate of economists surveyed by Bloomberg News.

In the U.S., a Commerce Department report at 10 a.m. in Washington will show that factory orders in the world’s biggest economy rose 2 percent in May, compared with 1 percent the prior month, economists forecast in a Bloomberg survey.

To contact the reporter on this story: Namitha Jagadeesh in London at njagadeesh@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net

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