LONDON MARKETS: SABMiller Rises In U.K. Market, Tesco Off

By Sara Sjolin, MarketWatch

LONDON (MarketWatch) -- Most U.K. stocks moved higher on Friday, with the benchmark index on track for a 3.5% weekly gain and shares of SABMiller PLC rising for a second day after a broker upgrade.

The FTSE 100 index rose 0.1% to 5,799.26, possibly extending gains into a fifth straight day.

SABMiller shares picked up 0.8% to ʣ28.33, adding to a 6.4% gain on Thursday when the brewer reported a rise in net profit. On Friday, Nomura lifted the stock to neutral from reduce, while Soci̩t̩ G̩n̩rale raised its target price to ʣ29.70 from ʣ28.00.

Shares of Wm. Morrison Supermarkets PLC dropped 1.5%, as Nomura downgraded the European supermarkets sector to neutral from bullish.

Tesco PLC shares (TESO) also headed lower, off 0.6%.

Among other notable movers in London, banking shares added to previous days' gains. Shares of Lloyds Banking Group PLC (LYG) rose 0.5% and sector heavyweight HSBC Holdings PLC (HBC) inched 0.4% higher.

Most mining firms were also on the rise, tracking gains for metals prices. Shares of BHP Billiton PLC (BHP) added 0.4% and Rio Tinto PLC shares (RIO) gained 0.3%.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires