Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Markets

News : Markets

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

LONDON MARKETS: Sainsbury Boosts FTSE 100 To Small Weekly Gain

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/22/2013 | 06:12pm CEST

By Sara Sjolin, MarketWatch

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

The FTSE 100 index added 0.7% to close at 6,335.70, climbing back after a 1.6% decline on Thursday. On a weekly basis, the index inched 0.1% higher.

Shares of J Sainsbury gained 2.1%, after Citigroup lifted the supermarket retailer to buy from neutral.

Additionally, the bank said it expects earnings from Tesco PLC (>> Tesco Corporation), down 0.4%, and Wm. Morrison Supermarkets PLC to disappoint, up 0.2%.

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. Lloyds Banking Group PLC gained 1.7%, HSBC Holdings PLC (>> HSBC Holdings plc) rose 0.7% and Barclays PLC (>> Barclays PLC) inched 0.2% higher.

Oil shares were also in positive territory. BG Group PLC rose 1.6%, Royal Dutch Shell PLC (RDSB) gained 0.6% and BP PLC (>> BP plc) inched 0.2% higher.

Shares of Vodafone Group PLC (>> Vodafone Group plc) gained 1.9%. The wireless-telecom firm said it had been selected by ThyssenKrupp AG to provide mobile services in 30 countries.

Shares of G4S PLC shaved off 0.9%, as HSBC cut the private-security firm to underweight from neutral.

"We think the market is disproportionately focused on G4S' UK public sector travails, which is 10% of group revenues," the analysts said.

"Instead, a much bigger risk is building. Manned security pricing is very weak in many developed markets, which makes cost recovery difficult and squeezes gross margins," they added.

Mining firms showed mixed moves in London, as most metals prices moved lower. Antofagasta PLC rose 1.6% and heavyweight Rio Tinto PLC (>> Rio Tinto plc) dropped 1.2%.

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

Stocks mentioned in the article
ChangeLast1st jan.
ANTOFAGASTA -2.60% 935.2 Delayed Quote.-4.48%
BARCLAYS 0.68% 214.18 Delayed Quote.4.87%
BP 1.41% 531.4 Delayed Quote.0.25%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.-5.90%
G4S 1.14% 257.4 Delayed Quote.-4.79%
J SAINSBURY 0.41% 267.905 Delayed Quote.10.52%
LLOYDS BANKING GROUP -0.09% 64.93 Delayed Quote.-4.50%
RIO TINTO -0.93% 3888 Delayed Quote.-0.46%
RIO TINTO LIMITED -0.15% 79.4 End-of-day quote.4.89%
ROYAL DUTCH SHELL -1.94% 28.53 Delayed Quote.4.71%
TESCO -0.71% 237.605 Delayed Quote.14.41%
TESCO CORP 0.00%-End-of-day quote.0.00%
THYSSENKRUPP -1.13% 21.92 Delayed Quote.-8.40%
VODAFONE GROUP PLC --End-of-day quote.
WM MORRISON SUPERMARKETS 0.43% 235.1 Delayed Quote.6.46%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Markets"
07:16aGlobal Stocks Edge Higher Ahead of U.S. Markets Open
DJ
06:41aGlobal Stocks Edge Higher Ahead of U.S. Markets Open
DJ
06:31aMARKET SNAPSHOT: Facebook Rally Sets U.S. Tech Stocks Up For Upbeat Trading Day
DJ
06:07aFTSE : Shell's cash flow disappointment drags FTSE down
RE
05:44aGlobal Stocks Muted Amid Mixed Earnings Reports
DJ
05:40aLONDON MARKETS : FTSE 100 Pares Loss, But Shell Shares Struggle
DJ
05:25aWorld stocks edgy as rising bond yields raise fears for growth and profits
RE
05:25aWORLD STOCKS : Edgy as rising bond yields raise fears for growth and profits
RE
05:16aWorld stocks edgy as rising bond yields raise fears for growth and profits
RE
04:53aEUROPE : European shares recover as earnings dominate, Lufthansa disappoints
RE
Latest news "Markets"
Advertisement