Economics
U.K.’s FTSE 100 Index Drops as Euro-Area Manufacturing Contracts
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U.K. stocks fell for a fifth day, for the longest run of losses in 10 months, after a contraction in euro-area manufacturing added to signs that Britain’s largest trading partner is struggling to emerge from a recession.
Eurasian Natural Resources Corp., CRH Plc and Smith Groups Plc paced the selloff, each falling at least 2 percent in London trading. Next Plc rallied to the highest price in at least 24 years after the clothing retailer reported profit that topped analyst estimates.