U.K. Stocks Are Little Changed
U.K. stocks declined for a third day as investors awaited a monthly report on U.S. payrolls to gauge the strength of the world’s biggest economy.
International Consolidated Airlines Group SA tracked losses in European carriers as the death toll from a new strain of bird flu in China rose. European Natural Resources Corp. soared after UBS AG and Liberum Capital Ltd. recommended buying the shares.
The FTSE 100 (UKX) fell 23.77 points, or 0.4 percent, to 6,320.35 at 9:31 a.m. in London, heading for a 1.4 percent weekly loss. The broader FTSE All-Share Index dropped 0.3 percent today, while Ireland’s ISEQ Index retreated 0.5 percent. The FTSE 100 has still rallied 7.2 percent this year as U.S. lawmakers agreed on a compromise budget and data fueled optimism that the world’s biggest economy is recovering.
U.K. stocks yesterday posted the biggest two-day drop since July as European Central Bank President Mario Draghi said he sees risks to the euro area’s economic recovery.
Today’s non-farm payrolls data may show U.S. employers hired a net 190,000 workers last month and the unemployment rate held at a four-year low of 7.7 percent as demand improved at the start of the year, according to the median economist forecast in a Bloomberg survey. That compares with an increase of 236,000 in February.
IAG (IAG), the parent of British Airways, slid 3.7 percent to 22.9 pence. EasyJet Plc (EZJ) lost 3.9 percent to 1,054 pence. The death toll from a new strain of bird flu in China rose to six people as authorities in Shanghai shut several poultry markets and culled birds.
Perform Group Plc (PER) sank 6.3 percent to 445.5 pence. Hans Thomas Gross is selling a 5.4 percent stake in the online sports broadcaster, according to terms obtained by Bloomberg.
ENRC, Kazakhstan’s biggest copper producer, surged 5.1 percent to 247.2 pence. UBS and Liberum both raised their recommendations on the shares to buy.
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