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

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

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 CET

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
07:37p SOTEL SYSTEMS, LLC : Announces the Acquisition of Aztec Repair
07:36p PR NEWSWIRE : - End of Day
07:36p ALBA MINERALS : IIROC Trading Resumption - AA.H
07:36p 2016-1201 - Name and Symbol Change and Consolidation - Excalibur Resources Ltd. (XBR)
07:36p Glancy Prongay & Murray Announces the Filing of a Securities Class Action on Behalf of Endo International plc Investors and Encourages Investors to Contact the Firm
07:36p TENET HEALTHCARE CORP : Lundin Law PC Announces Securities Class Action Lawsuit against Tenet Healthcare Corp. and Reminds Investors with Losses to Contact the Firm
07:36p SCOTT+SCOTT, ATTORNEYS AT LAW, LLP REMINDS INVESTORS OF UPCOMING DEADLINE TO FILE LEAD PLAINTIFF PAPERS IN CEMPRA, INC. (NASDAQ : CEMP) Securities Case
07:35pDJFrench Prime Minister Valls Announces Run for President
07:35p UNDER ARMOUR : replaces Majestic as MLB jersey supplier in '20
07:35p IIROC Trade Resumption - Alba Minerals Ltd.
Latest news
Advertisement
Hot News 
3.23%BAYERISCHE MOTOREN WERKE : BMW seeks to be 'coolest' ride-hailing firm with autonomous car
2.40%VOLKSWAGEN : Audi extends job guarantees for German staff to 2020
1.51%AIRBUS : chief wants soft Brexit, higher German military budget
-6.31%Eddie Lampert proposes to buy further stake in Sears Hometown
2.79%ADANI ENTERPRISES : secures milestone in planned $16 billion Australian coal project
Most Read News
07:25a BP's Mad Dog leads the oil pack's return to the Gulf of Mexico
10:40a TSX gains as energy stocks rise with oil
08:50a New car sales on course for record year after November rise
12:25p BANCA MONTE DEI PASCHI DI SIENA : Rescue of Italian bank Monte Paschi in danger after Renzi's defeat
02:54a BAYERISCHE MOTOREN WERKE : BMW seeks to be 'coolest' ride-hailing firm with autonomous car
Most recommended articles
12/02 Platts considers first addition to Brent basket since 2007
11/30DJCash Crunch Looms Over India's Growth Spurt
01:29p UNITED CONTINENTAL : Airlines mechanics vote to ratify new contract
01:24p U.S. retailers value enthusiasm over experience for holiday hires
01:18p Eddie Lampert proposes to buy further stake in Sears Hometown