By Sara Sjolin, MarketWatch
LONDON (MarketWatch) ? U.K.?s benchmark index struggled for direction on Friday, as heavyweight mining firms took a hit from a sharp climb in Chinese inflation, while oil firms and banks pushed higher.
The FTSE 100 index /quotes/zigman/3173262 UK:UKX -0.07% ?traded slightly higher at 6,103.99, setting it on track for a 0.2% weekly gain.
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Shares of Tullow Oil PLC /quotes/zigman/271296 UK:TLW -4.82% ?dropped the most in the index, off 4.2%, after it said it expects to post revenue for 2012 of about $2.35 billion. It further said that unsuccessful explorations write-offs rose to $299 million from $121 million in 2011. See: Tullow sees 2012 revenue at $2.35 billion
Other oil firms, however, showed positive trends, as oil prices hovered around the flat line. Shares of BG Group PLC /quotes/zigman/249967 UK:BG +0.82% ?gained 1%, Royal Dutch Shell PLC /quotes/zigman/359955 UK:RDSB +0.36% ? /quotes/zigman/379012/quotes/nls/rds.b RDS.B +0.85% ?rose 0.3% and BP PLC /quotes/zigman/210014 UK:BP 0.00% ? /quotes/zigman/247026/quotes/nls/bp BP +1.67% ?picked up 0.2%.
Banks were also higher, taking inspiration from gains on Wall Street on Thursday, when the S&P 500 index /quotes/zigman/3870025 SPX +0.76% ?closed at a five-year high.
Shares of Barclays PLC /quotes/zigman/301787 UK:BARC +1.21% ? /quotes/zigman/152323/quotes/nls/bcs BCS +1.92% ?climbed 2%, Royal Bank of Scotland Group PLC /quotes/zigman/10330253 UK:RBS +1.01% ? /quotes/zigman/530544/quotes/nls/rbs RBS +3.93% ?gained 1.7% and Lloyds Banking Group PLC /quotes/zigman/126322 UK:LLOY +0.58% ? /quotes/zigman/255656/quotes/nls/lyg LYG +0.87% ?added 1.3%.
British Airways parent IAG rises after a broker upgrade on Friday.Mining firms, however, added pressure in London, declining as inflation data from China showed consumer prices rose more than expected in December and reached a seven-month high. TheConsumer Price Indexx climbed 2.5%, fueling fears that additional monetary stimulus to boost the economy will be limited. See: China consumer inflation quickens on food costs
BHP Billiton PLC /quotes/zigman/184879 UK:BLT -2.79% ? /quotes/zigman/270355/quotes/nls/bhp BHP -0.34% ? /quotes/zigman/180893 AU:BHP -1.95% ?lost 2.7%, Rio Tinto PLC /quotes/zigman/155899 UK:RIO -2.37% ? /quotes/zigman/182541/quotes/nls/rio RIO +0.16% ? /quotes/zigman/176317 AU:RIO -1.94% ?gave up 1.9% and Vedanta Resources PLC /quotes/zigman/336962 UK:VED -1.91% ?slid 1.5%. Metals prices were mostly lower See: Gold futures retreat as dollar firms
Among other notable movers in London, shares of insurer Aviva PLC /quotes/zigman/153201 UK:AV +2.04% ?rose 2.2%. Citigroup lifted the firm to buy from neutral, saying it is one of the most attractive opportunities in the sector.
International Consolidated Airlines Group SA /quotes/zigman/3670411 UK:IAG +2.44% ?gained 3.6%, as UBS lifted the British Airline-parent to buy from neutral, according to Dow Jones Newswires.
Shares of Marks & Spencer Group PLC /quotes/zigman/298234 UK:MKS -1.46% erased 1.4%, after HSBC cut the firm to neutral from overweight.
/quotes/zigman/3173262
UK : FTSE Indices
Volume: 0.00
Jan. 11, 2013 10:02a
/quotes/zigman/271296 UK : U.K.: London
Volume: 2.82M
Jan. 11, 2013 10:02a
Market Cap?11.28 billion
/quotes/zigman/249967 UK : U.K.: London
Volume: 1.54M
Jan. 11, 2013 10:02a
Market Cap?35.18 billion
/quotes/zigman/359955 UK : U.K.: London
Volume: 512,832
Jan. 11, 2013 10:02a
Market Cap?138.68 billion
/quotes/zigman/379012/quotes/nls/rds.b US : U.S.: NYSE
Volume: 2.20M
Jan. 10, 2013 4:00p
Market Cap$222.01 billion
/quotes/zigman/210014 UK : U.K.: London
Volume: 3.61M
Jan. 11, 2013 10:02a
Market Cap?87.78 billion
/quotes/zigman/247026/quotes/nls/bp US : U.S.: NYSE
Volume: 9.35M
Jan. 10, 2013 4:00p
Market Cap$140.52 billion
/quotes/zigman/3870025 US : S&P Base CME
Volume: 544.22M
Jan. 10, 2013 4:39p
/quotes/zigman/301787 UK : U.K.: London
Volume: 18.68M
Jan. 11, 2013 10:02a
Market Cap?36.09 billion
Rev. per Employee?276,634
/quotes/zigman/152323/quotes/nls/bcs US : U.S.: NYSE
Volume: 3.26M
Jan. 10, 2013 4:00p
Rev. per Employee$437,826
/quotes/zigman/10330253 UK : U.K.: London
Volume: 4.11M
Jan. 11, 2013 10:02a
Market Cap?39.09 billion
Rev. per Employee?229,355
/quotes/zigman/530544/quotes/nls/rbs US : U.S.: NYSE
Volume: 343,148
Jan. 10, 2013 4:05p
Rev. per Employee$363,431
/quotes/zigman/126322 UK : U.K.: London
Volume: 35.67M
Jan. 11, 2013 10:01a
Market Cap?37.59 billion
Rev. per Employee?360,302
/quotes/zigman/255656/quotes/nls/lyg US : U.S.: NYSE
Volume: 2.04M
Jan. 10, 2013 4:05p
Rev. per Employee$574,687
/quotes/zigman/184879 UK : U.K.: London
Volume: 2.21M
Jan. 11, 2013 10:01a
Market Cap?45.53 billion
Rev. per Employee?983,627
/quotes/zigman/270355/quotes/nls/bhp US : U.S.: NYSE
Volume: 3.18M
Jan. 10, 2013 4:00p
Market Cap$127.34 billion
/quotes/zigman/180893 AU : Australia: Sydney
Volume: 10.07M
Jan. 11, 2013 6:06p
Market Cap$121.18 billion
/quotes/zigman/155899 UK : U.K.: London
Volume: 1.69M
Jan. 11, 2013 10:02a
Market Cap?50.07 billion
Rev. per Employee?527,959
/quotes/zigman/182541/quotes/nls/rio US : U.S.: NYSE
Volume: 2.26M
Jan. 10, 2013 4:04p
Rev. per Employee$836,487
/quotes/zigman/176317 AU : Australia: Sydney
Volume: 2.33M
Jan. 11, 2013 6:26p
Rev. per Employee$811,248
/quotes/zigman/336962 UK : U.K.: London
Volume: 136,358
Jan. 11, 2013 9:59a
Rev. per Employee?293,882
/quotes/zigman/153201 UK : U.K.: London
Volume: 4.09M
Jan. 11, 2013 10:02a
Market Cap?11.01 billion
/quotes/zigman/3670411 UK : U.K.: London
Volume: 4.45M
Jan. 11, 2013 10:02a
Rev. per Employee?251,818
/quotes/zigman/298234 UK : U.K.: London
Volume: 1.36M
Jan. 11, 2013 10:01a
Rev. per Employee?122,574
Sara Sjolin is a MarketWatch reporter based in London. Follow her on Twitter @sarasjolin.
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