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Name | Symbol | Market | Type |
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FTSE 100 Index | FTSE:UKX | FTSE Indices | Index |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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18.80 | 0.24% | 7,895.85 | 7,900.51 | 7,809.68 | 7,877.05 | 0 | 16:35:28 |
By Victor Reklaitis, MarketWatch
Bottler Coca-Cola HBC's shares build on prior day's sizable gain
U.K. stocks gained Friday, adding to their weekly advance, boosted by the pound losing ground after discouraging data on U.K. retail sales.
The FTSE 100 moved higher by 0.2% to 7,294.89, after trading in the red in morning action. The rise put the blue-chip benchmark on pace for a 0.5% gain for the week.
On Thursday, the index lost 0.3%, retreating from a one-month closing high reached in the prior session.
The pound was trading at $1.2415, down from $1.2494 late Thursday, as traders reacted to a January report on U.K. retail sales. The report showed a month-over-month drop of 0.3%, missing forecasts for a rise.
The retail sales number was "really weak," showing British consumers are starting to feel the squeeze due to a pickup in inflation (http://www.marketwatch.com/story/uk-inflation-hits-2-year-high-beats-views-2017-01-17), said Naeem Aslam, chief market analyst at Think Markets UK, in a note.
"The net impact on the currency after the data was bad, and we have seen traders putting more short trades against the sterling-dollar pair," he added.
The FTSE 100 turned positive as sterling slumped. A weaker pound often boosts the exporter-heavy index, as goods and services become cheaper for holders of other currencies.
Investors also were digesting U.S. President Donald Trump's lengthy press conference (http://www.marketwatch.com/story/trump-attacks-media-during-lengthy-press-conference-2017-02-16) on Thursday, in which he said he "inherited a mess" at home and abroad, and blasted the news media.
Movers: Coca-Cola HBC AG's shares gained 2.5% for one of the FTSE 100's biggest gains. The stock is building on Thursday's jump of 4.9%, which came after the bottling company said profit rose last year (http://www.marketwatch.com/story/coca-cola-hbc-2016-profit-up-lifts-dividend-2017-02-16).
Shares in consumer-products giant Unilever PLC (ULVR.LN) rose nearly 5%, with traders attributing the jump to takeover speculation (https://twitter.com/IGSquawk/status/832561533246926849).
AstraZeneca PLC (AZN.LN) (AZN.LN) rose 2.2% after the drug company announced positive results from a trial (http://www.marketwatch.com/story/astrazeneca-breast-cancer-drug-trial-positive-2017-02-17) of its breast cancer treatment Lynparza.
Asia-focused bank Standard Chartered PLC (STAN.LN) gave up 2.9% for the FTSE's largest loss.
(END) Dow Jones Newswires
February 17, 2017 07:09 ET (12:09 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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