The U.K. unemployment rate fell to 6.9 percent, as pay growth and inflation grew by the same level.
British supermarket giant Tesco reported a dip in group sales compared to last year, highlighting the challenges it faces in the U.K. and Europe.
British luxury retailer Burberry said strong sales in China and Korea helped it to a 19 percent rise in second-half revenue, beating analyst expectations, but said it expected currency headwinds to hit profits in the next two years.
Swiss bank Credit Suisse reported a 34 percent drop in first-quarter net profit from the same period last year, worse than analysts had expected.
Get the best of CNBC in your inbox
Charlie Morris, chief technical strategist at HSBC, says the recent sell-off is a rotation out of the "Go Go Growth" of the past year and explains why he's increasingly investing in property.
David Gray, retail analyst at Planet Retail, says Tesco faces "fairly big" problems and need to focus on getting its food offering right, innovate and tighten margins on core products.
Michael Sneyd, foreign exchange analyst at BNP Paribas, says the U.K. jobless figure is positive for the economy and sterling and advises playing the currency against the euro.