LONDON MARKETS: FTSE 100 Higher, But Faces Fourth-straight Weekly Loss

By Carla Mozee, MarketWatch

LONDON (MarketWatch) -- The U.K.'s FTSE 100 benchmark rose Friday, aiming for its first win in two sessions, but still on track for a loss for a week that saw fears about stagnating global growth drive the benchmark into a correction.

The FTSE 100 rose 0.9% to 6,252, but a weekly fall of roughly 1.4% remained in store. At its lowest point during the week, the benchmark was down 10% from its 2014 high reached in May, marking a correction. European, U.S. and Asian equities were also battered this week, with most major indexes in the red.

The chief economist at the Bank of England, Andrew Haldane, on Friday said he's become "gloomier" over the past three months about the outlook for the U.K. economy, which overall has recently recovered at a stronger pace than other developed economies.

Haldane also said the U.K.'s benchmark interest rate, which currently sits at a record low of 0.5%, could remain "lower, for longer" without pushing inflation higher than the bank's 2% target.

Investors will monitor a speech by U.S. Federal Reserve Chairwoman Janet Yellen for any comments she may make about the outlook of the world's largest economy. She's slated to begin speaking in Boston at 1:30 p.m. London time, or 8:30 a.m. Eastern Time.

Stocks in focus: Shares of Petrofac Ltd. leapt 5.3% after the provider of services to the oil and gas industry said it's on track to meet its full-year profit expectations, in the range of $580 million to $600 million.

But Rolls-Royce Holding PLC shares skidded 11% lower after the company cut its full-year sales projection. The engine maker said it's received a number of canceled or delayed orders as economic conditions have worsened and Russian trade sanctions have tightened.

Carnival PLC lost 4%, hitting intraday lows after reports that a health care worker who handled lab samples from a man who died from the Ebola virus in Dallas was found on one of the company's cruise ships in the Caribbean. "At no point in time has the individual exhibited any symptoms or signs of infection and it has been 19 days since she was in the lab with the testing samples," Carnival said in a statement sent to MarketWatch. The health care worker was in isolation on the ship and isn't deemed to be a risk to other passengers or the crew, Carnival said.

Meanwhile, Tullow Oil PLC jumped 7.6%. The company said it plans to resume exploration activities at a number of its oil sites in Kenya after resolving a dispute with workers, according to a Dow Jones Newswires report.

Royal Mail PLC shares picked up 3.1% following a ratings upgrade to equal-weight from underweight at Morgan Stanley. "Although we believe Royal Mail continues to face many challenges, following the fall in the share price, the risk-reward is now more balanced," analysts wrote to clients.

Jimmy Choo PLC shares made their trading debut in London, priced at 140 pence each ($2.27), the bottom of an expected range. Shares were up 0.4% in afternoon action.

Also, Virgin Money PLC delayed the float of its shares in London, citing turbulent market conditions as reason for the move.

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