Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

LONDON MARKETS: Miners, Sainsbury Boost FTSE 100

02/22/2013 | 06:00am US/Eastern
Recommend:
0

By Sara Sjolin, MarketWatch

LONDON (MarketWatch) -- U.K. stocks on Friday recovered a portion of the losses scored in the previous trading session, with mining firms pushing higher on the back of rebounding metals prices and J Sainsbury PLC on the rise after a broker upgrade.

The FTSE 100 index added 0.7% to 6,334.51, climbing back after a 1.6% decline on Thursday.

Shares of J Sainsbury gained 1.6%, after Citigroup lifted the supermarket retailer to buy from neutral.

Additionally, the bank said it expects earnings from Tesco PLC (>> Tesco Corporation), up 0.2%, and Wm. Morrison Supermarkets PLC to disappoint, down 0.1%.

Mining firms were also among notable movers in London, as most metals prices moved higher. Shares of Kazakhmys PLC gained 3%, Antofagasta PLC rose 2.4% and heavyweight Rio Tinto PLC (>> Rio Tinto plc) advanced 1.8%.

The broader U.K. stock market benefited from a pickup in risk appetite across Europe after the German Ifo Business Climate Index jumped to 107.4, topping forecasts for a 104.7 and fueling hopes that Europe's largest economy is recovering. .

Risk-sensitive banks were among advancers. Barclays PLC (>> Barclays PLC) added 1.2%, Lloyds Banking Group PLC gained 0.8% and HSBC Holdings PLC (>> HSBC Holdings plc) rose 0.7%.

Oil shares were also in positive territory, as oil prices inched higher. BG Group PLC rose 1.1%, Royal Dutch Shell PLC (RDSB) gained 0.5% and BP PLC (>> BP plc) inched 0.1% higher.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Recommend :
0
React to this article
Latest news
Date Title
<1m ago ECB's Mersch says sees revival of money markets - media
<1m agoDJLONDON MARKETS : Kingfisher Leads Losers In London After Trading Update
<1m ago RESEARCH AND MARKETS : Industrial And Commercial LED Lighting Market 2013 - 2019 - Global Forecasts and Opportunities for the $12 Billion Industry
1m ago Patent Issued for Step Unit
1m ago OKAMURA : Patent Issued for Stretching Structure of Chair Upholstery Material
1m ago PLASTIC OMNIUM : Patent Issued for Static Temporary Storage Device for Motor Vehicle Body Parts
1m ago YACHIYO INDUSTRY : Patent Issued for Sunshade Apparatus
1m ago REALD : Patent Issued for Stereoscopic Image Format with Depth Information
1m ago Patent Issued for Stir-Transport Member, Development Device Provided Therewith, and Image Forming Apparatus
1m ago HTC : Patent Issued for Speaker System and Speaker Driving Circuit
Latest news
Advertisement
Hot News 
BYOTROL : Grant of Options 24th Jul 2014
CEGEREAL : French Core Office REIT: First-half 2014 - EPRA earnings up 32.5%
NASSTAR : Acquisition of Kamanchi Limited
RTC : 2014 RTC Group Plc Interim Results Statement 24/7/2014
SAGENTIA : *numis cuts sagentia group price target to 150 (180) pence - 'add'
Most Read News
1d ago FACEBOOK : beats Wall Street targets, stock hits record high
1d ago QUALCOMM : struggles to collect royalties in China, stock falls
1d ago BOMBARDIER : to cut 1,800 jobs, aerospace head retires
1d ago NOVO NORDISK A/S : New Colitis Study Results from Novo Nordisk Described (Predictive validity and immune cell involvement in the pathogenesis of piroxicam-accelerated...
1d ago MCDONALD : Meat supplier in China food scandal grew with McDonald's
Most recommended articles
7d agoDJU.S. Industrial Production-Historical
1m agoDJEUROPE MARKETS : European Stocks Erase Losses After Strong PMIs
2m agoDJWPP : Kantar Invests in ZappiStore; No Financial Details Disclosed
3m ago China July HSBC flash PMI at 18-month high as stimulus revs up economy
4m ago Spain unemployment falls to lowest in two years
Dynamic quotes  
ON
| OFF