Wednesday, June 20, 2012

London Markets: U.K. stocks mostly rise; Weir Group, oil firms up

By Sara Sjolin, MarketWatch

LONDON (MarketWatch) ? Most U.K. stocks traded in positive territory on Tuesday, with resource firms leading the index higher and Weir Group PLC jumping after affirming full year guidance.

The FTSE 100 index /quotes/zigman/3173262 UK:UKX +0.75% ?added 0.4% to 5,513.56, possible extending gains into a third straight day. The index closed at its highest level since May 11 on Monday after pro-bailout party New Democracy won parliamentary elections in Greece.

Obama optimistic on Greek results

At the G-20 Summit in Mexico, President Barack Obama said Greece's elections results bode well for the global markets. Sudeep Reddy reports on the News Hub. Photo: AFP/GettyImages.

Engineering solutions business Weir Group /quotes/zigman/130249 UK:WEIR +4.87% ?jumped 4.2% after it said it sees revenue opportunities of up to 3 billions pounds ($4.7 billion) over the next 10 to 15 years. Weir sees ?3B minerals-unit revenue opportunities

Miner Evraz PLC /quotes/zigman/7218774 UK:EVR +2.15% ?also rose on guidance news, up 2.3%, after saying it targets a $5 billion earning before interest, tax, depreciation and amortization in 2016. Evraz targets $5 billion Ebitda In 2016

Other miners were higher, as metals prices were mixed. Antofagasta PLC /quotes/zigman/139152 UK:ANTO +3.63% ?took on 2.3%, Rio Tinto PLC /quotes/zigman/155899 UK:RIO +2.28% ?added 1.7% and Vedanta Resources PLC /quotes/zigman/336962 UK:VED +2.39% ?rose 1.7%.

Oil firms further supported the U.K. index. BP PLC /quotes/zigman/210014 UK:BP +0.81% ? /quotes/zigman/247026/quotes/nls/bp BP -1.72% ?inched 1.1% higher, BG Group PLC /quotes/zigman/249967 UK:BG +1.91% ?gained 1.7% and Royal Dutch Shell PLC /quotes/zigman/359915 UK:RDSA +0.92% ? /quotes/zigman/359955 UK:RDSB +0.89% ? /quotes/zigman/379078/quotes/nls/rds.a RDS.A -0.47% ? /quotes/zigman/379012/quotes/nls/rds.b RDS.B -0.45% ?was up 0.6%.

Whitbread PLC /quotes/zigman/445964 UK:WTB +8.27% ?shares moved jumped 7%. The UK hotel and restaurant company and operator of coffee bars reported that first-quarter same-store sales rose 4.5% while total sales rose 14%.

For the second quarter, Chief Executive Andy Harrison said in a statement, the company faces tougher comparative figures from a strong year- earlier period and ?the uncertain impact of the summer?s major sporting events.?

Outside the main index, Shares of Home Retail Group PLC /quotes/zigman/427633 UK:HOME +18.56% jumped 16.4% in early trading. The UK general-merchandise retailer affirmed its outlook for full year profit. First quarter same-store sales were off 0.2% at Argos, while they were off 8.3% at Homebase, hurt by bad weather.

/quotes/zigman/3173262

UK : FTSE Indices

Volume: 0.00

June 19, 2012 10:04a

/quotes/zigman/130249

UK : U.K.: London

Volume: 732,826

June 19, 2012 10:04a

Rev. per Employee

?196,418

/quotes/zigman/7218774

UK : U.K.: London

Volume: 259,301

June 19, 2012 10:04a

Rev. per Employee

?91,343

/quotes/zigman/139152

UK : U.K.: London

Volume: 330,221

June 19, 2012 10:04a

Market Cap

?10.59 billion

Rev. per Employee

?764,775

/quotes/zigman/155899

UK : U.K.: London

Volume: 1.04M

June 19, 2012 10:04a

Market Cap

?41.41 billion

Rev. per Employee

?534,026

/quotes/zigman/336962

UK : U.K.: London

Volume: 176,632

June 19, 2012 10:04a

Rev. per Employee

?281,656

/quotes/zigman/210014

UK : U.K.: London

Volume: 3.71M

June 19, 2012 10:04a

Market Cap

?80.56 billion

/quotes/zigman/247026/quotes/nls/bp

US : U.S.: NYSE

Volume: 4.55M

June 18, 2012 4:00p

Market Cap

$126.02 billion

/quotes/zigman/249967

UK : U.K.: London

Volume: 1.33M

June 19, 2012 10:04a

Market Cap

?42.12 billion

/quotes/zigman/359915

UK : U.K.: London

Volume: 434,565

June 19, 2012 10:04a

Market Cap

?136.00 billion

/quotes/zigman/359955

UK : U.K.: London

Volume: 555,354

June 19, 2012 10:04a

Market Cap

?136.00 billion

/quotes/zigman/379078/quotes/nls/rds.a

US : U.S.: NYSE

Volume: 2.59M

June 18, 2012 4:06p

Market Cap

$212.74 billion

/quotes/zigman/379012/quotes/nls/rds.b

US : U.S.: NYSE

Volume: 834,645

June 18, 2012 4:07p

Market Cap

$212.74 billion

/quotes/zigman/445964

UK : U.K.: London

2,002.00 p

+153.00 +8.27%

Volume: 615,825

June 19, 2012 10:04a

Rev. per Employee

?58,326

/quotes/zigman/427633

UK : U.K.: London

Volume: 5.40M

June 19, 2012 10:04a

Market Cap

?568.19 million

Rev. per Employee

?111,092

Sara Sjolin is a MarketWatch reporter, based in London.

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