Member access

4-Traders Homepage  >  News


Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

LONDON MARKETS: Miners, Sainsbury Boost FTSE 100

02/22/2013 | 07:00am US/Eastern

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:

Latest news
Date Title
<1m ago BANK OF JAPAN : Out Of The Blue Japan Stimulus Drives Dollar To 4-Year Peak
1m ago NGFA NATIONAL GRAIN AND FEED ASSOCIATION : Rail Carriers Provide Updates at National Grain Car Council Meeting
1m ago NGFA NATIONAL GRAIN AND FEED ASSOCIATION : -NAEGA Submit Joint Comments on Agroterrorism/Facility Security
1m ago NGFA NATIONAL GRAIN AND FEED ASSOCIATION : Ag Groups Urge President to Prioritize Funding for Upper Mississippi River
1m ago ANSELL : Announces appointment of jeyan heper as president & general manager, sexual wellness global business unit
1m ago NGFA NATIONAL GRAIN AND FEED ASSOCIATION : Congressman Todd Young to Address Country Elevator Conference & Trade Show
1m ago NGFA NATIONAL GRAIN AND FEED ASSOCIATION : Trans-Pacific Partnership Update and Other Trade Developments
2m ago RAYTHEON : New England Legal Foundation Honors Jay B. Stephens, Raytheon General Counsel, with First Annual Cabot Award
4m ago Change in Distribution Policy of Guardian High Yield Bond Fund
4m ago Fitch Affirms BSCMS 2006-PWR11; Outlook Revised
Latest news
Hot News 
BANCO ESPIRITO SANTO : Angola brings oil firm Sonangol into local BES bank
1SPATIAL : Interim Results for the six month period ended 31 July 2014
ULS TECHNOLOGY : Plunges As Improved Results Still Won't Meet Forecasts
AUDIENCE : misses 3Q revenue forecasts
AEGERION PHARMACEUTICALS : tops 3Q profit forecasts
Most Read News
1d ago ENERGEN : tops Street 3Q forecasts
1d ago CHINA MENGNIU DAIRY : Mengniu and Danone Strengthen Strategic Alliance as Danone Subscribes to a Private Placement by Yashili
2h ago BNP shakes off impact of U.S. fine, returns to profit
1d ago FLUOR NEW : ICA Fluor Awarded Fabrication Contract for Shell’s Heavy Oil Extraction Project in Canada
1d ago Hiring business drives LinkedIn's revenue beat
Most recommended articles
24m ago Consumers more secure with Apple Pay - Javelin
24m agoDJThe Case for 'Alternative' Investments
28m ago Dollar General extends tender offer for Family Dollar shares again
43m ago WALL STREET STOCK EXCHANGE : Dow hits record high; BOJ ramps up stimulus
43m ago Canada banks, card companies reach deal on retail fees -source
Dynamic quotes