The UK market is moderately lower in afternoon trading Thursday, as downgrading of Greek bond ratings by Moody's Investors Service unnerved global markets, amid fears of moderation in growth.
Moody's Investors Service Wednesday downgraded Greece's local and foreign currency bond ratings deeper into junk status, citing heightened risk that the country will fail to stabilize its debt position without a debt restructuring.
The Euro Stoxx 50 index of eurozone blue chippers is declining 0.75 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is dropping 0.82 percent.
The FTSE 100 opened at 5,928 and has been trading in negative territory. The index is currently losing 0.75 percent.
Specialty chemicals firm Johnson Matthey is falling 2.7 percent. The company reported a higher profit for the year, as revenues increased 27 percent, and lifted its full-year dividend 18 percent.
Miners Antofagasta, Rio Tinto, Xstrata and BHP Billiton are losing between 2.7 percent and 2.2 percent.
Retailer Kingfisher is losing 2.4 percent after projecting a tough year for retailers.
Lloyds Banking Group is dropping 1.15 percent and Standard Chartered is falling 0.6 percent.
Serco Group is adding 2.9 percent.
Outside the main index, WS Atkins is down 1.2 percent. The company announced the retirement of its Chief Executive Officer and Director Keith Clarke and named Uwe Krueger as Clarke's successor.
ASOS is declining 10.2 percent in London after reporting a fall in reported profit for the year.
Elsewhere in Europe, the German DAX is declining 1.05 percent and the French CAC 40 is losing 1.10 percent. Switzerland is closed for the Ascension Day holiday.
In economic news, British construction sector activity showed a solid expansion in May, data from Markit Economics showed. The Markit/Chartered Institute of Purchasing & Supply Purchasing Managers' Index rose to 54 from 53.3 in April. The expected reading for May was 53.5.
Across Asia/Pacific, markets ended firmly in the red. Australia's All Ordinaries lost 2.20 percent and China's Shanghai Composite Index retreated 1.40 percent. Hong Kong's Hang Seng and Japan's Nikkei 225 shed 1.58 percent and 1.69 percent.
In the U.S., futures point to a slightly higher open on Wall Street. In the previous session, the Dow plunged 2.2 percent, the Nasdaq dropped 2.3 percent and the S&P 500 plummeted 2.3 percent.
In the commodity space, crude is adding $0.11 to $100.40 per barrel and gold is rising $1.30 to $1544.50 a troy ounce.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.