(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* Discoverie Group rises after upsizing equity raise
* Sanne Group falls after Cinven steps back from bidding war
* UK economic recovery slows down as supply chain issues
weigh
* FTSE 100 down 0.4%, FTSE 250 off 0.1%
(Updates to close)
By Devik Jain and Amal S
Sept 3 (Reuters) - London's FTSE 100 slipped on Friday
weighed by weakness in energy and pharmaceutical stocks, while a
weaker-than-expected U.S. job growth data in August further
dented sentiment.
After rising as much as 0.6%, the blue-chip index
reversed course to end 0.4% down. Oil majors BP, Royal
Dutch Shell were among the top drags.
Global equities retreated from record highs after U.S jobs
report showed a sharp slowdown in jobs growth last month
sparking fears of slowing global growth.
"It's lower than estimates, but I did not think that the
numbers were outside of the parameters of general expectations.
It's generally a positive although not a huge positive for the
economy and the markets," said Mark Grant, chief global
strategist of fixed income at B. Riley Securities Inc.
Wider mining index gained 0.5%, tracking
metal prices higher as investors sought the perceived safety of
gold following dismal U.S. job data.
Britain's economic recovery from the COVID-19 pandemic lost
more momentum last month than originally estimated as staff
shortages and supply chain issues weighed on companies in the
country's huge services sector, a survey showed.
Meanwhile, pharmaceuticals fell 0.8% amid
Britain's vaccine advisers' decision of not recommending the
universal vaccination of 12 to 15-year-olds against COVID-19.
The domestic focused mid-cap FTSE 250 index edged
0.1% lower, however marked its second straight week in gains.
Among other stocks, Ashmore Group fell 4.1% after
the emerging markets-focused money manager reported a 12% dip in
annual net revenue.
Discoverie Group's shares gained 21.6% after the
electronic components manufacturer and supplier upsized its
equity raise offering.
Sanne Group slipped 2.1% after London-based private
equity firm Cinven said it would not make another buyout offer
for the asset management services provider.
(Reporting by Devik Jain and Amal S in Bengaluru, additional
reporting by Sruthi Shankar; Editing by Saumyadeb Chakrabarty,
Uttaresh.V and Marguerita Choy)
Ashmore (ASHM)
BP (BP.)
