India, Jan. 27 -- U.K. stocks are slightly down Monday morning, due largely to weakness in the mining sector after data showed a contraction in the manufacturing sector in the world's second largest economy.
The latest survey from the National Bureau of Statistics said the manufacturing sector in China fell into contraction in January, with the manufacturing PMI score dropping to 49.1. That missed expectations for a reading of 50.1, the previous month's score.
Chna's industrial profits declined at a faster rate of 3.3% in 2024, despite a surge in profits in December, another data from the National Bureau of Statistics said. In 2023, profits had dropped by 2.3%.
The U.K.'s benchmark FTSE 100 is down 24.56 points or 0.29% at 8,477.79
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