London midday: UK stocks fall as global PMI data dampens sentiment

The UK stock market slumped on Thursday as a wave of disappointing economic data and speculation about a looming interest-rate hike in the States prompted investors to tread cautiously.London's FTSE 100 was down 0.7% at 6,649 by midday, with the heavyweight mining sector providing a drag as figures from top metals consumer China weakened.However, strong gains from blue chips Babcock International and Johnson Matthey were limiting the downside.The preliminary HSBC purchasing managers' index (PMI) for Chinese manufacturing released overnight showed that the sector failed to grow this month. The PMI fell to the break-even point of 50 in November, a six-month low, down from 50.4 the previous month and below the 50.2 that analysts were expecting.A string of PMIs from the Eurozone also came in shy of forecasts, with activity growth in the manufacturing and services sectors both easing in November. As such, the composite Eurozone PMI fell from 52.1 to a 16-month low of 51.4, surprising analysts who had expected an increase to 52.3.Stocks on Wall Street finished in the red on Wednesday night after minutes of last month's Federal Open Market Committee (FOMC) meeting revealed that members had debated about whether or not to change its forward guidance on interest rates.In the end, the FOMC maintained its stance to keep rates low "for a considerable time", but the minutes showed that policymakers were divided over the timing and trajectory of the first rate hike.Miners drop, Babcock and Johnson Matthey riseResource groups Anglo American, Rio Tinto and BHP Billiton were among the worst performers on the FTSE 100 as analysts scaled back their appetite for risk following the Chinese data.BHP Billiton boss Andrew Mackenzie said at a shareholder meeting in Australia that "the time for massive expansions of iron ore are over". Iron ore is the company's largest business and prices are currently trading at their lowest in over five years.Interim results from engineer Babcock impressed investors after profits, earnings and cash hit or beat targets. The FTSE 100 company, which on Wednesday confirmed a major contract with the Ministry of Defence, lifted pre-tax profits 32% to £187m on revenue up 24% to £2.1bn.Although first-half revenue dropped by a quarter at Johnson Matthey, shares in the chemical and sustainable technologies group gained after profits improved and the company lifted its full-year guidance slightly.British Gas and Direct Energy owner Centrica was out of favour after warning that its full-year and 2015 earnings will be lower than previously guided due to "a number of challenges" including low oil and gas prices, cold weather in the US, warm weather in the UK and boiler inspections at its power stations.Royal Bank of Scotland was under pressure after the Financial Conduct Authority and the Bank of England fined the bank £56m for the computer failures that hit more than over 6.5m UK customers for several weeks in 2012.A number of heavyweight stocks were also trading in the red after going ex-dividend, including Vodafone, J Sainsbury and National Grid. Market MoverstechMARK 2,859.83 -0.41%FTSE 100 6,649.10 -0.71%FTSE 250 15,548.86 -0.34%FTSE 100 - RisersBabcock International Group (BAB) 1,170.00p +4.65%Johnson Matthey (JMAT) 3,283.00p +4.16%Coca-Cola HBC AG (CDI) (CCH) 1,420.00p +1.57%TUI Travel (TT.) 422.10p +1.32%Friends Life Group Limited (FLG) 340.50p +1.19%Petrofac Ltd. (PFC) 1,160.00p +1.13%easyJet (EZJ) 1,554.00p +0.78%Wolseley (WOS) 3,483.00p +0.66%Direct Line Insurance Group (DLG) 285.10p +0.64%InterContinental Hotels Group (IHG) 2,589.00p +0.62%FTSE 100 - FallersRio Tinto (RIO) 2,850.50p -3.11%Anglo American (AAL) 1,283.00p -3.02%Sports Direct International (SPD) 635.50p -2.75%BHP Billiton (BLT) 1,581.50p -2.68%Smiths Group (SMIN) 1,178.00p -2.56%Intertek Group (ITRK) 2,385.00p -2.53%Sainsbury (J) (SBRY) 256.40p -2.36%National Grid (NG.) 938.00p -2.34%Standard Chartered (STAN) 901.30p -2.28%Dixons Carphone (DC.) 417.50p -2.27%FTSE 250 - RisersUDG Healthcare Public Limited Company (UDG) 344.50p +5.38%ICAP (IAP) 395.70p +2.51%Pace (PIC) 350.00p +2.01%Inmarsat (ISAT) 740.50p +2.00%Dechra Pharmaceuticals (DPH) 775.50p +1.84%Greene King (GNK) 761.00p +1.40%Domino's Pizza Group (DOM) 669.00p +1.36%Alent (ALNT) 352.30p +1.32%Close Brothers Group (CBG) 1,487.00p +1.29%Debenhams (DEB) 70.90p +1.29%FTSE 250 - FallersSerco Group (SRP) 180.00p -6.49%Centamin (DI) (CEY) 50.60p -5.15%Vedanta Resources (VED) 747.00p -4.41%Ferrexpo (FXPO) 72.90p -4.39%Kaz Minerals (KAZ) 238.80p -3.94%Lonmin (LMI) 181.20p -3.62%Infinis Energy (INFI) 222.60p -3.39%Evraz (EVR) 137.20p -3.18%Ophir Energy (OPHR) 179.70p -3.18%Nostrum Oil & Gas (NOG) 619.00p -2.83%