By Barbara Kollmeyer, MarketWatch
MADRID (MarketWatch) ? London stocks rose on Friday as investors basked in the afterglow of a statement by the Bank of England that many read as confirmation of a continuing easy monetary stance, and as Goldman Sachs put a year-end target of 7,100 on the FTSE 100.
But gains were not as pronounced as the day prior, as investors awaited key U.S. nonfarm payroll data. The FTSE 100 index /quotes/zigman/3173262 UK:UKX +0.10% ?logged its best one-day and percentage gains since autumn 2011, rising 3%, or 191.80 points, to 6,421.67.
Europe?s Week Ahead: Look to China
The debate over when the U.S. Federal Reserve will start to withdraw liquidity will continue to rage, especially with the European Central Bank and the Bank of England turning more dovish. But the focus will shift to China and the impact it is having on global growth.
On Friday, the index was up 0.4% to 6,445.62, as several miners stepped back from lofty prior-day gains. Shares of Rio Tinto PLC /quotes/zigman/182541/quotes/nls/rio RIO -0.57% ?? /quotes/zigman/155899 UK:RIO -2.79% fell 1.8%, BHP Billiton PLC /quotes/zigman/270355/quotes/nls/bhp BHP -2.16% ? /quotes/zigman/184879 UK:BLT -2.34% ?declined 1.6% and Glencore Xstrata PLC /quotes/zigman/5131911 UK:GLEN -3.17% ?dropped 2.8%. Shares of Randgold Resources Ltd. /quotes/zigman/349729 UK:RRS -3.21% ?fell 1.5% even as Nomura lifted shares to neutral from reduce.
Shares of Whitbread PLC /quotes/zigman/445964 UK:WTB -2.97% ?fell over 3% after UBS strategists cut shares to neutral from buy, after an investment day. ?While we view the new brand and international expansion plans positively, we do not think these initiatives change the near-term outlook,? said Jarrod Castle, analyst at UBS.
On the upside, GlaxoSmithKline PLC /quotes/zigman/146635/quotes/nls/gsk GSK +0.52% ? /quotes/zigman/263563 UK:GSK +1.20% ?rose 1.2% and Diageo PLC /quotes/zigman/208874 UK:DGE +0.94% ?gained over 1%. Barclays PLC /quotes/zigman/301787 UK:BARC +0.48% ? /quotes/zigman/152323/quotes/nls/bcs BCS +1.06% ?was also up over 1%.
Goldman Sachs said in a note on Friday that it was advising going long U.K. equities and targeting 7,100 for the FTSE 100. The investment bank gave three reasons for its view: first, the U.K. economy looks to be on an upswing and second, monetary policy looks set to ease further, especially after Thursday?s dovish statement from the Bank of England, led by new Governor Mark Carney.
?Third, our forecasts also envisage a gradual stabilization in euro area growth in the second half of the year. As one of the U.K.?s largest trading partners, the gradual improvement in growth here should also be a tailwind for the U.K. economy and U.K. markets,? said economist Noah Weisberger in a note.
/quotes/zigman/3173262
UK : FTSE Indices
Volume: 0.00
July 5, 2013 2:05p
/quotes/zigman/182541/quotes/nls/rio US : U.S.: NYSE
Volume: 1.41M
July 3, 2013 1:03p
Rev. per Employee$716,974
/quotes/zigman/155899 UK : U.K.: London
Volume: 2.31M
July 5, 2013 2:05p
Market Cap?38.95 billion
Rev. per Employee?451,624
/quotes/zigman/270355/quotes/nls/bhp US : U.S.: NYSE
Volume: 1.60M
July 3, 2013 1:00p
/quotes/zigman/184879 UK : U.K.: London
Volume: 2.89M
July 5, 2013 2:05p
Market Cap?36.53 billion
Rev. per Employee?911,375
/quotes/zigman/5131911 UK : U.K.: London
Volume: 13.30M
July 5, 2013 2:05p
Market Cap?36.44 billion
/quotes/zigman/349729 UK : U.K.: London
4,163.00 p
-138.00 -3.21%
Volume: 220,321
July 5, 2013 2:05p
Rev. per Employee?73,346
/quotes/zigman/445964 UK : U.K.: London
Volume: 491,961
July 5, 2013 2:03p
Rev. per Employee?60,209
/quotes/zigman/146635/quotes/nls/gsk US : U.S.: NYSE
Volume: 1.14M
July 3, 2013 1:02p
Market Cap$126.62 billion
Rev. per Employee$417,244
/quotes/zigman/263563 UK : U.K.: London
Volume: 4.21M
July 5, 2013 2:05p
Market Cap?84.05 billion
Rev. per Employee?263,972
/quotes/zigman/208874 UK : U.K.: London
Volume: 2.18M
July 5, 2013 2:05p
Market Cap?49.39 billion
Rev. per Employee?429,761
/quotes/zigman/301787 UK : U.K.: London
Volume: 26.50M
July 5, 2013 2:05p
Market Cap?37.66 billion
Rev. per Employee?191,494
/quotes/zigman/152323/quotes/nls/bcs US : U.S.: NYSE
Volume: 1.46M
July 3, 2013 1:02p
Rev. per Employee$302,169
Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter @MWBarbaraKollmeyer.
Source: http://feeds.marketwatch.com/~r/marketwatch/financial/~3/BrubqgJ-qAk/story.asp
channel 3 news j lo j lo sacha baron cohen ryan seacrest octavia spencer meryl streep oscars school shooting ohio
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.