BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks fell notably on Friday even as the latest data indicated that the worst phase of the service sector downturn has passed.
The U.K. Service sector Purchasing Managers' Index for June rose to 47.1 from 29.0 in May. The latest reading was better than the 'flash' estimate of 47.0.
Separately, a flash survey conducted by the market research group GfK revealed that U.K. consumer sentiment improved at the end of June. The corresponding index rose three points to -27 over the last two weeks of June.
Virus worries persist after the U.S. notched more than 53,000 new Covid-19 cases in 24 hours Thursday, marking a record single-jump in infections around the country.
The benchmark FTSE 100 dropped 47 points, or 0.75 percent, to 6,193 after rising 1.3 percent on Thursday.
Ryanair Holdings shed 0.7 percent. The budget airline welcomed acceptance by 100 percent of its Irish Pilots of a 4-year agreement which includes a 20 percent pay reduction, restored over 4 years, to minimize job losses.
Retailer Next lost 2.5 percent after Goldman Sachs downgraded its rating on the stock to 'sell'.
Rio Tinto declined 1.3 percent. The mining giant said Oyu Tolgoi LLC has completed an updated feasibility study (OTFS20) and is in the process of submitting this to the Government of Mongolia.
Essentra, a supplier of plastic and fiber products, jumped 6 percent. The company reported that its like-for-like revenue trend improved as the second quarter progressed. For the third quarter, the company projected continued revenue progress on a stable operating base.
Real estate investment trust Land Securities Group advanced 1.7 percent. The company said that 122 million pounds of rent was due on the 24 June rent payment date.
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