The charge was behind economists’ expectations, and looking out on the charge in contrast with the earlier quarter, the financial system edged up by simply 0.8%.
The FTSE 100 closed 28.15 factors, or 0.38%, decrease at 7,406.42p.
Danni Hewson, head of monetary evaluation at AJ Bell, stated: “Dragging the index down were shares in miners and energy companies, suggesting nervousness around commodity markets and the global economy.
“China is a major consumer of commodities, and disappointing economic indicators typically drive down shares in miners and oil companies for fear that demand for metals, minerals and energy products will be lower than previously hoped.”
The temper was reciprocated elsewhere in Europe, with France’s Cac 40 dropping 1.12% and Germany’s Dax dipping by 0.23%.
Top shares within the US had a stronger begin to the week. The S&P 500 was up by 0.3% and the Dow Jones 0.2% larger by the point European markets closed.
The pound lagged after reaching highs of greater than a yr towards the US greenback final week. It was down 0.1% to 1.31 US {dollars}, and down 0.2% towards the euro to 1.164.
The value of Brent crude oil dropped by 1.3% to 78.8 US {dollars} per barrel.
In firm news, couch vendor DFS noticed shares rise regardless of sliding gross sales after it informed traders that cost-cutting actions have been serving to to restrict the hit to earnings.
The London-listed retailer reported a 4% drop in product sales for the yr to June 25, with shopper spending on large ticket gadgets reminiscent of sofas dented by the cost-of-living disaster, however stated earnings have been consistent with expectations. As a consequence, it noticed shares end 6p larger at 119.8p.
Asset administration agency Gresham House shot larger after it agreed a takeover by US funding agency Searchlight Capital Partners.
Gresham stated it had sealed a £469.8 million deal from the suitor after a bid of 1,105p per share to purchase the agency, which manages round £8 billion in property throughout the UK, Ireland, Australia and different markets. Shares within the firm jumped by 380p to 1,060p on the shut of buying and selling.
Tortilla Mexican Grill traders warmed as much as a gradual buying and selling replace on Monday, because the restaurant chain posted a 22% enhance in revenues over the primary half of the yr, boosted by new openings.
The firm’s shares improved by 1.5p to 83p after Tortilla stated effectivity and cost-saving efforts would proceed to help revenue into the second half of the yr.
The greatest risers on the FTSE 100 have been Spirax-Sarco Engineering, up 220p to 10,675p, Rentokil, up 9.6p to 623.2p, NatWest Group, up 3.6p to 246.6p, Compass Group, up 31p to 2,124p, and Pershing Square Holdings, up 32p to 2,190p.
The greatest fallers have been Coca-Cola HBC, down 102p to 2,330p, Flutter Entertainment, down 550p to fifteen,435p, Glencore, down 13.15p to 453.65p, Anglo American, down 58.5p to 2,290.5p, and Antofagasta, down 38p to 1,499p.
