By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- Most U.K. stocks moved higher on Friday,
with the benchmark index on track for a 3.5% weekly gain and shares
of SABMiller PLC rising for a second day after a broker
upgrade.
The FTSE 100 index rose 0.1% to 5,799.26, possibly extending
gains into a fifth straight day.
SABMiller shares picked up 0.8% to £28.33, adding to a
6.4% gain on Thursday when the brewer reported a rise in net
profit. On Friday, Nomura lifted the stock to neutral from reduce,
while Société Générale raised its target price to £29.70
from £28.00.
Shares of Wm. Morrison Supermarkets PLC dropped 1.5%, as Nomura
downgraded the European supermarkets sector to neutral from
bullish.
Tesco PLC shares (TESO) also headed lower, off 0.6%.
Among other notable movers in London, banking shares added to
previous days' gains. Shares of Lloyds Banking Group PLC (LYG) rose
0.5% and sector heavyweight HSBC Holdings PLC (HBC) inched 0.4%
higher.
Most mining firms were also on the rise, tracking gains for
metals prices. Shares of BHP Billiton PLC (BHP) added 0.4% and Rio
Tinto PLC shares (RIO) gained 0.3%.
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