Stock
indices declined due to losses in the airline sector. Deutsche Lufthansa AG shares
dropped at fastest pace since September 2001.
The World
Bank’s cut of the global economic growth forecast also weighed on stock
markets. The World Bank lowered its global growth forecast to 2.8% from an
earlier estimate of 3.2% due to a weaker outlook for the U.S., Russia and
China.
The Office
for National Statistics released the U.K. labour market data. The U.K.
unemployment rate fell to 6.6% in the three months to April from 6.8% in the
previous three months. That was the lowest level since early 2009. Analysts had
expected a decline to 6.7%.
Deutsche
Lufthansa AG shares dropped 14% after the company lowered its earnings
forecasts for this and next year.
Vallourec
SA, a steel pipe producer, slid 11% after lowering its earnings forecast for
2014.
Airbus
Group shares declined 3.1% after Emirates cancelled an order for 70 A350 jets.
Indexes on
the close:
Name Price Change Change %
FTSE
100 6,838.87 -34.68 -0.50%
DAX 9,949.81 -78.99 -0.79%
CAC 40 4,555.11
-39.89 -0.87%
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