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 GOOGLE : Patent Issued for Dynamic Tiermaps for Large Online Databases
<1m ago Patent Issued for Droplet Ejecting Device Capable of Maintaining Recording Quality While Suppressing Deterioration of Actuator
<1m ago MICROSOFT : Patent Issued for Efficient Geometric Tessellation and Displacement
<1m ago MICROSOFT : Patent Issued for Exploiting Sparseness in Training Deep Neural Networks
<1m ago Patent Issued for Display Apparatus Including Sub-Light Source Groups
<1m ago EASTMAN KODAK : Patent Issued for Droplet Generator
<1m ago Patent Issued for Display Apparatus and Driving Method
<1m ago EASTMAN KODAK : Patent Issued for Development Roller with Increasing Magnetic Field
<1m ago Patent Issued for Electrophoresis Type Display Device and Method of Fabricating and Driving the Same
<1m ago DENSO : Patent Issued for Electronic Apparatus for Vehicle
Latest news
Advertisement
Hot News 
MATRA PETROLEUM : EGM Statement – Cancellation of trading on AIM
RTC : Board Appointment
IRONVELD : Shares Jump 26% As Study Confirms Viability Of Iron Project
WEDNESDAY SECTOR LEADERS : Rental, Leasing, & Royalty, Precious Metals
OROGEN GOLD : Full-Year Pretax Loss Widens On Impairment
Most Read News
2h ago Apple shares jump 8 percent, Asian stocks lag
2h ago BUFFETT : moving oil by rail safely major industry concern
2h ago ACTIVISION BLIZZARD : Newest Skylanders® Game - Skylanders Trap TeamTM - Takes Toys-to-Life Phenomenon to New Levels by Bringing Digital Characters into the Physical World
5h ago GE in talks to buy France's Alstom - Bloomberg
2h ago WAL MART STORES : -Mart says former CEO Scott to retire from board
Most recommended articles
2h ago Apple shares jump 8 percent, Asian stocks lag
11h ago Weaker FTSE 100 gets support from ABF and AstraZeneca
1d ago Barclays joins retreat from commodities as new rules bite
6d ago BLACKSTONE : earnings rise 30 percent, boosted by private equity gains
4m agoDJGlaucus Accuses Chinese Recycler of Doctoring Financials
Dynamic quotes  
ON
| OFF