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Britain’s gross domestic product advanced by a lower-than-expected 0.8% in May from April, while a Reuters consensus expected a 1.5% jump.
Vectura Group soared by 12.2% after Philip Morris announced it will purchase the pharmaceutical company for 1.05 billion pounds ($1.44 billion).
The reflation trade took another hit, with profit-taking on energy, retail and bank stocks. In recent months, investors piled on these type of stocks, hoping they would benefit from a strong economic rebound. But prospects for reflation trade are dimming now, as concerns about slowing growth is pushing yields down.
Investors remain cautious on the spread of the Delta variant, after the UK announced the lifting of travel restrictions for fully-vaccinated travellers to countries on the amber list.
