CRH falls on dour European market outlook
Drax Group rises to top of FTSE 250 after share buyback
FTSE 100 down 0.3, FTSE 250 off 0.4

April 26 Reuters Britain39;s FTSE 100 fell on Wednesday, logging its biggest oneday percentage drop in three weeks, as concerns of recession in the United States and overnight losses on Wall Street shrouded upbeat domestic earnings.

The bluechip index fell 0.3, down for the third straight session, while the midcap FTSE 250 shed 0.4 as of 0829 GMT.

We are right in the midst of earning season at the moment, and there has been a knockon effect of reports from the U.S. affecting sentiment in the UK, said Christopher Peters, trading floor manager at Accendo Markets.

Wall Street39;s major averages slumped on Tuesday, as a downbeat UPS forecast exacerbated investor concerns about a slowing U.S. economy, while plunging deposits at regional First Republic Bank added to jitters about the bank sector39;s health.

The FTSE 100 had a good run earlier this month, buoyed by strength in commodity stocks and defensives like pharmaceuticals. However, markets have taken to a waitandsee mode as earnings kicked in, to assess the impact of monetary tightening on results.

Persimmon Plc gained 5.1 after the house builder said it expects to build homes at the top end of its annual guidance range, lifting homebuilders up 1.8.

Not the best results in terms of completions previously, but the fact that they39;re showing signs of going forward has pushed the…