FTSE 100 Slumps Again as GSK Falters, Investors Eye Economic Data

London's FTSE 100 declined for the third day, impacted by a drop in GSK shares following a narrowed RSV vaccine recommendation by the US CDC. Investors keenly await upcoming US and UK economic data. Burberry's shares fell due to a loss of dividend entitlement, while FTSE 250 saw modest gains.

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) *

FTSE 100 down 0.6%, FTSE 250 adds 0.2% *

GSK slides as US CDC narrows age recommendation for RSV shots *

Burberry trades without dividend entitlement (Updated 1550 GMT)

By Purvi Agarwal and Pranav Kashyap June 27 (Reuters) -

London's FTSE 100 fell for the third consecutive day on Thursday as GSK dropped after the U.S. public health agency narrowed the scope of the drugmaker's RSV vaccine, while investors awaited key U.S. and domestic economic data. The benchmark FTSE 100 was down 0.6% to 8,179.68 points.

The pharma sector was weighed down by the 4.6% drop in GSK after the U.S. CDC on Wednesday narrowed its recommendation for the use of respiratory syncytial virus vaccines in older adults this year and held off on recommending their use for adults under the age of 60. Investors were also in a wait-and-watch mode over U.S. personal consumption expenditure (PCE) numbers, due on Friday, which could influence the Federal Reserve's stance on interest rate cuts this year.

Additionally, UK gross domestic product (GDP) figures could add to the Bank of England's confidence to cut rates in August. The benchmark FTSE 100 index has retreated 3.5% from its record level hit in mid-May in the build-up to Britain's July 4 parliamentary elections.

The automobile and parts sector dropped 1.4% after industry data showed that Britain's car output had dropped 11.9% year-over-year in May, declining for the third straight month. Accessories retailer Burberry fell 6.4% as the company traded without entitlement to its latest dividend payouts.

DS Smith jumped 15.7% as Suzano terminated talks to buy International Paper. The British paper and packaging firm agreed to be bought by International Paper for $7.2 billion in April. The domestically oriented FTSE 250 edged 0.2% higher.

Leading gains on the mid-cap index was Moonpig Group soaring 15.2% after the online greetings card company reported its full-year results.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)