This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-36424795

The article has changed 3 times. There is an RSS feed of changes available.

Version 0 Version 1
FTSE 100 dips as Wolseley shares slide FTSE 100 slides as China data weighs on mining stocks
(about 3 hours later)
(Open): The market opened lower, with shares in plumbing firm Wolseley hit by its latest trading update. (Noon): Mining firms pulled the London market lower as the latest factory data from China indicated that the sector remained weak.
Wolseley shares fell 5.6% after it said like-for-like revenues had risen 1% in recent weeks, compared with 2.8% growth in the three months to 30 April. An official measure of Chinese factory activity suggested a slight improvement in May, but a private survey indicated continued contraction.
It said demand in several of its markets remained "subdued" and it was "committed to further restructuring in the UK and Europe". The figures hit mining shares in London, with Glencore and Rio Tinto both down by more than 3%.
The FTSE 100 index was down 15 points at 6,215.79. The FTSE 100 was down 44.61 points, or 0.7%, at 6,186.18.
In the FTSE 250, shares in Halfords fell 4.7% after the car parts and bicycle retailer reported flat full-year profits. But the biggest faller in the FTSE 100 was plumbing supplies firm Wolseley. Its shares dived 7% after it said like-for-like revenues had risen 1% in recent weeks, compared with 2.8% growth in the three months to 30 April.
Wolseley said demand in several of its markets remained "subdued" and it was "committed to further restructuring in the UK and Europe".
In the FTSE 250, shares in Halfords fell 4.9% after the car parts and bicycle retailer reported flat full-year profits.
Underlying pre-tax profits at the retailer rose by just 0.5% to £81.5m in the year to 1 April.Underlying pre-tax profits at the retailer rose by just 0.5% to £81.5m in the year to 1 April.
On the currency markets, the pound edged up 0.1% against the dollar to $1.4495, but fell 0.1% against the euro to €1.2991. On the currency markets, the pound fell 0.3% against the dollar to $1.4446, and dropped 0.5% against the euro to €1.2948.