Reuters: Hot Stocks: Britain's FTSE slips as China slowdown dampens sentiment

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Britain's FTSE slips as China slowdown dampens sentiment Jun 10th 2013, 07:12 LONDON, June 10 | Mon Jun 10, 2013 3:12am EDT LONDON, June 10 (Reuters) - Britain's benchmark equity index edged lower on Monday, easing off from the previous session's gains as new signs of economic slowdown in China impacted sentiment. The blue-chip FTSE 100, which had climbed 1.2 percent on Friday, fell by 0.4 percent, or 27.92 points, to 6,384.07 points by 0705 GMT. Water utility Severn Trent was the worst-performing FTSE 100 stock, falling 4.7 percent after rejecting a pre-conditional possible offer from a bid consortium. Data over the weekend showed up weakness in China's May exports and signs that the country's domestic activity was struggling to pick up. "A cagey open for European markets today as sketchy data from China weighed on investors' sentiment," said Spreadex trader Shavaz Dhalla. "Clearly such figures are a sharp reminder that China is still struggling to recover with the global economic downturn and there is still a way to go before investors' confidence in the economic giant returns." (Reporting by Sudip Kar-Gupta; Editing by Alistair Smout)

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