LONDON MARKETS: FTSE 100 Rises, On Track For A Weekly Advance

By Carla Mozee, MarketWatch

BAE gains, but AstraZeneca falls

U.K. stocks rose Friday, headed toward a weekly win, with BAE Systems PLC higher as the defense company considers the sale of some U.S. assets, but AstraZeneca PLC shares falling after financial results.

The FTSE 100 rose 0.4% to 7,081.24, led by mining shares, some of which have seen benefited from a rise this week in iron-ore prices. Shares of BHP Billiton PLC (BHP) and Rio Tinto PLC (RIO) , the largest iron-ore producers, rose 1.5% and 1.4%, respectively.

The moves helped keep the benchmark FTSE 100 on the path for a 1.2% weekly rise. The blue-chip index is up 4.5% so far this year.

BAE Systems shares climbed 1.8% as the defense company said it's been approached about a takeover of some of its U.S.-based assets (http://www.marketwatch.com/story/bae-systems-considers-sale-of-some-us-activities-2015-04-24-24851613). Its U.S. manpower and services business, which largely do work for the U.S. government, are generating "external interest and a number of enquiries", BAE said.

Meanwhile, shares of Reckitt Benckiser Group PLC picked up 0.9%. The consumer-products company said first-quarter revenue rose 1% (http://www.marketwatch.com/story/reckitt-benckiser-revenue-up-1-backs-guidance-2015-04-24) and that it's on track to meet its growth targets for the year. Excluding currency movements, and the impact of mergers and acquisitions, its sales rose 5% from the year-ago period.

But shares of AstraZeneca PLC lost 0.9% as the drug heavyweight posted a fall in first-quarter revenue and profit (http://www.marketwatch.com/story/astrazeneca-profit-down-as-sales-of-stalwarts-fade-2015-04-24) as it invests in new drugs. Core net profit fell 7% to $1.37 million, and revenue declined 6% to $6.06 billion.

Merlin Entertainments PLC shares fell 1% after J.P. Morgan Cazenove downgraded the operator of Legoland and other theme parks to neutral, saying its "strong prospects are now fully valued."

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