UK stocks drop back on growth, euro zone concerns

LONDON Sept 26 (Reuters) - Britain's leading share index dropped back

sharply on Wednesday, tracking a reversal on Wall Street and losses overnight in

Asia, pressured by global growth worries and signs that Spain's economic crisis

is worsening.

At 0711 GMT, the FTSE 100 index was down 50.93 points, or 0.9

percent, at 5,808.78, having gained 0.4 percent on Tuesday in tandem with an

early advance on Wall Street following upbeat U.S. data.

However, U.S. blue chips turned around late on, shedding 0.8 percent,

while the broader S&P 500 suffered its worst day since June as investors

focused back on growth concerns ahead of the end of the third-quarter and start

of the next corporate earnings season.

Concerns over the euro zone debt crisis were also to the fore once again.

Spain's Prime Minister Mariano Rajoy on Wednesday said he was ready to seek

a new rescue package for his troubled country but only if its debt financing

costs remain too high for too long.

(Reporting by Jon Hopkins; Editing by Sudip Kar-Gupta)

Source: http://news.yahoo.com/uk-stocks-drop-back-growth-euro-zone-concerns-071350301--sector.html

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