LONDON MARKETS: Experian Leads FTSE 100 To Second Day Of Losses

By Sara Sjolin, MarketWatch

LONDON (MarketWatch) -- A steep decline for Experian PLC weighed on the FTSE 100 index on Wednesday, while better-than-expected data on industrial production helped the benchmark curb losses.

The benchmark index slipped 0.1% to close at 6,741.69, building on a 0.3% loss from Tuesday.

The loss came even as the Office for National Statistics said output from British factories climbed 0.9% in September from August and increased 2.2% on an annual basis. The figures were stronger than expected, as economists had forecast a monthly rise of 0.5% and an annual increase of 1.7%.

Adding pressure in London, shares of Experian PLC slid 6.4% after the credit-data provider said it agreed to buy Passport Health Communications Inc. for $850 million, subject to regulatory approval. The company posted a sharp rise in half-year profit.

On a more upbeat note, shares of Associated British Foods PLC climbed 2.8% to 22.69 pounds ($36.55) after Morgan Stanley reiterated its overweight rating on the Primark-owner and lifted the price target to GBP24.10 from GBP22.65.

Shares of Old Mutual PLC added 2.3% after the global insurer reported a rise in third-quarter sales as conditions in the U.S. and U.K. improved.

EasyJet PLC rose 0.9% after the no-frills airliner said passenger traffic climbed 5.4% in October. The gain for EasyJet came even as HSBC cut the firm to underweight from neutral.

In Dublin, Ryanair Holdings PLC gained 2% after HSBC lifted the budget airliner to overweight from neutral, given recent weakness. The company sank 13% on Monday after it cut its full-year outlook due to a dip in average fares.

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