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Markets - Equity - Europe

Britain's FTSE retreats, Rolls-Royce and Barratt weigh LONDON: Britain's top share index edged lower on Wednesday after gaining in the previous two sessions, with companies such as jet engine maker Rolls-Royce and the country's biggest housebuilder Barratt slipping after their updates.The blue-chip FTSE 100 index was down 0.3 percent by 0950 GMT after gaining 0.6 percent on Tuesday and 0.3 percent on Monday. The benchmark index is up more than 8 percent so far this year.Britain's mid-cap index was trading flat.Rolls-Royce fell 3.6 percent, the biggest decliner in the FTSE 100. The maker of engines for military jets, ships and nuclear-powered submarines said demand for its engines for extra-wide-body civil aircraft was strong, but business aviation had weakened further.Britain's pre-eminent engineering company, which is recovering from a string of profit warnings, also said offshore oil and gas markets showed no signs of recovering and an accounting change will cut into its profit until 2020-25."The new accounting policies ...
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