By Victor Reklaitis, MarketWatch
U.K. stocks showed little change Friday, but stayed on track for
gains for the week and the month.
The FTSE 100 was edging down less than 0.1% to 6,66.37. It's on
track for a weekly gain of 1.3% and monthly advance of 2.2%, the
best month since April. On Thursday, the benchmark closed 0.4%
higher and notched its third-straight advance
(http://www.marketwatch.com/story/london-stocks-on-pace-for-third-straight-win-as-rbs-rolls-royce-push-higher-2015-07-30).
"The short-term technical outlook remains supportive although I
would draw readers' attention to the 6750 level," Bill McNamara,
technical analyst at Charles Stanley, in a Friday note. "Given the
choppy nature of trading this summer it would not be too surprising
if traders viewed a run up to that level as a compelling reason to
take trading profits."
ITV PLC (ITV.LN) shares rose 1.8% and fared best in the FTSE 100
after cable giant Liberty Global PLC (LBTYA) boosted its stake in
the broadcaster to 9.9%.
But that was offset by a 2.7% slide by InterContinental Hotels
Group PLC (IHG) (IHG) , marking the benchmark's worst performance,
after the company denied reports that it's in merger talks with
Starwood Hotels & Resorts Worldwide Inc. (HOT)
Antofagasta PLC (ANTO.LN) was another notable decliner, falling
2.4% on news that it's planning to buy 50% of a copper mine in
Chile from Barrick Gold Corp. (ABX.T)
In the currency market, the pound fell 0.2% to $1.5566, putting
it on track for a weekly gain of 0.4% but a monthly drop of
0.9%.
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