LONDON MARKETS: FTSE 100 Stuck In Tight Range After Last Week's Selloff
February 08 2016 - 4:12AM
Dow Jones News
By Sara Sjolin, MarketWatch
Randgold lifts dividends
U.K. stocks on Monday struggled for direction after last week's
selloff, with oil and mining shares pushing higher on the back of
rising resource prices, while Rolls-Royce slumped ahead of
releasing earnings.
The FTSE 100 index slipped 0.2% to 5,838.08, but swung in and
out of losses. The index ended last week
(http://www.marketwatch.com/story/uk-stocks-wobble-as-miners-lose-hold-on-gains-2016-02-05)
down 3.9%, its largest week slide since early January, after a
mixed U.S. jobs report, jitters in the oil market and a dovish Bank
of England quarterly inflation report.
Shares of Randgold Resources Ltd. (RRS.LN) (RRS.LN) were among
biggest advancers in the London benchmark, up 3.1%, after the gold
miner said it's lifting its dividend
(http://www.marketwatch.com/story/randgold-lifts-dividend-after-record-output-2016-02-08).
The West African miner also reported record output and forecast
higher production for 2016.
Other mining companies were also on the rise, tracking solid
gains across most metals. Glencore PLC (GLEN.LN) (GLEN.LN) gained
3.7%, Rio Tinto PLC (RIO) (RIO) (RIO) added 3.1%, and BHP Billiton
PLC (BLT.LN) (BHP.AU) (BHP.AU) climbed 2.7%.
Oil prices jumped, pushing London-listed energy companies higher
too. Shares of Royal Dutch Shell PLC (RDSB.LN) (RDSB.LN) rose 0.8%,
BG Group PLC (BG.LN) gained 0.7%, and Tullow Oil PLC (TLW.LN)
picked up 0.5%.
On a more downbeat note, shares of Rolls-Royce Holdings PLC
(RR.LN) (RR.LN) dropped 2.1% ahead of its earnings release on
Friday. The aerospace and defense company is tipped to announce a
dividend cut, said Tony Cross, market analyst at Trustnet Direct,
in a note.
BT Group PLC (BT.A.LN) fell 0.7% after the telecom company said
its looking for a new finance director to succeed Tony
Chanmugam.
HSBC Holdings PLC (HSBA.LN) (HSBA.LN) (HSBA.LN) lost 1.2% after
British newspaper the Telegraph reported the bank is expected to
decide this week
(http://www.telegraph.co.uk/finance/newsbysector/epic/hsba/12145047/HSBC-to-stay-in-London-as-board-meets-for-final-decision-on-HQ.html)
whether to move its headquarters outside the U.K.
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Our panelists for the evening will include MarketWatch Personal
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The event is free and open to the public, but reservations are
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email (MarketWatchevent@wsj.com).
(END) Dow Jones Newswires
February 08, 2016 03:57 ET (08:57 GMT)
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