London Stock Exchange
The FTSE 100 Index fell on the back of weak services dataGetty

The London market slipped in afternoon trading as investors digested another disappointing set of economic data following the Brexit vote.

Services sector activity fell to 47.4 in July, down from 52.3 in June, its weakest level since February 2009, according to the closely-watched Markit/CIPS purchasing managers' index. Any mark below 50 is a contraction.

The FTSE 100 Index fell 17.9 points to 6627.5, as traders reacted to the poor survey from the sector that accounts for around three-quarters of the economy. The news comes on the back of weak factory output and construction data earlier this week.

The FTSE 250 Index fell 76.5 points to 16986.6.

Markets were subdued ahead of a Bank of England meeting on Thursday (4 August), which is widely expected to see the interest rate cut to a historic low of 0.25%, and may also see other stimulus measures announced.

Spreadex financial analyst Connor Campbell said today services data serves as "effectively guaranteeing some kind of action from the Bank of England tomorrow."

In afternoon trading the biggest risers on the FTSE 100 Index were Standard Chartered (+39p to 628.6p), Associated British Foods (+119p to 2837p), HSBC (+19.1p to501.9p), Next (+190p to5320p) and GKN (+5.3p to 291.7p).

The biggest fallers on the FTSE 100 Index were Paddy Power Betfair (-155p to 8400p), Persimmon (-29p to 1653p), Direct Line Insurance (-6.6p to393.3p), Taylor Wimpey (-2.4p to 149.2p) and Intu Properties (-4.4p to 296p).

In afternoon trading the biggest risers on the FTSE 250 Index were Laird (+17.8p to 313p), Pendragon (+1.4p to 32.3p), OneSavings Bank (+7.6p to 210.8p), Hochschild Mining (+8.7p to 297p) and Tullett Prebon (+9.5p to 342.3p).

The biggest fallers on the FTSE 250 Index were Aggreko (-154 to 1077p), Drax Group (-13.1p to 315.5p), Meggitt (-16.5p to 405.7p), Countryside Properties (-8.2p to 221.4p) and Allied Minds (-11.2p to 352p).