FTSE 100 dragged down by global gloom, Barratt warning

Shares of Barratt dropped 0.7% after Britain's largest housebuilder posted a drop in annual profit and forecast difficult trading conditions over the coming months. The broader housebuilders index declined 0.7%. Global markets also extended losses for a second day as faltering growth in China and Europe heightened concerns about global economic momentum. Emerging markets-focused fund manager Ashmore's shares fell 4.3% after it reported a 6% drop in annual profit.

UK's FTSE 100 slipped on Wednesday as recent soft economic data from China and Europe continued to weigh on global sentiment, while shares of Barratt Developments fell after the homebuilder warned of a tough housing market environment.

The exporter-heavy FTSE 100 index dropped 0.5% in early trade, while the domestically focussed FTSE 250 index declined 0.4%. Shares of Barratt dropped 0.7% after Britain's largest housebuilder posted a drop in annual profit and forecast difficult trading conditions over the coming months.

The broader housebuilders index declined 0.7%. Global markets also extended losses for a second day as faltering growth in China and Europe heightened concerns about global economic momentum.

Emerging markets-focused fund manager Ashmore's shares fell 4.3% after it reported a 6% drop in annual profit. WH Smith rose 2.6% after the retailer reported a 28% jump in annual revenue, boosted by strong demand during a busy summer travel season.

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