London stocks slip on weak China data; homebuilders drop

Britain's resource-heavy stock indexes slipped on Wednesday as weak trade data from China drove miners lower, while shares of homebuilders dropped on dismal domestic housing prices data. The resource-heavy FTSE 100 slipped 0.2% as of 0717 GMT, while the domestically-focused FTSE 250 midcap index was down 0.1%. The chemicals sector index shed 1.4%.

Britain's resource-heavy stock indexes slipped on Wednesday as weak trade data from China drove miners lower, while shares of homebuilders dropped on dismal domestic housing prices data.

The resource-heavy FTSE 100 slipped 0.2% as of 0717 GMT, while the domestically-focused FTSE 250 midcap index was down 0.1%. British house prices dropped on an annual basis in May for the first time in 11 years, mortgage lender Halifax said, prompting a 1.1% decline in homebuilders' stocks.

Miners shed 0.7% as copper prices dipped after data showed China's exports shrank much faster than expected in May and imports fell. Energy stocks too edged 0.4% lower, tracking lower crude oil prices.

Croda International Plc lost 2.1% as Goldman Sachs lowered its rating on the speciality chemicals group's stock to "neutral" from "buy". The chemicals sector index shed 1.4%.