By Carla Mozee, MarketWatch FTSE 100 on track for weekly rise

LONDON (MarketWatch) -- U.K. stocks ebbed lower Friday, with oil issues pulled down as crude prices were stuck at multiyear lows, but Tesco PLC was a standout gainer following a ratings upgrade for the embattled supermarket chain.

The FTSE 100 shed 0.1% to 6,631.29 as oil and gas shares fell alongside crude futures. January Brent on London's ICE Futures exchange fell 9 cents, or 0.1%, to $77.42. Shares of Tullow Oil fell 2.4%, BP PLC (BP) lost 0.9% and BG Group PLC gave up 1%.

Mining issues were also under pressure, with Fresnillo PLC off by 2.8%, Randgold Resources Ltd. lower by 2.2% and Anglo American PLC losing 2.1%.

But Tesco bounced up 1.7% following a late-Thursday ratings upgrade to overweight from neutral by HSBC, which said, in part, it believes "the right steps are being taken to position Tesco for the long term, building on its scale, skills and assets." Tesco in September first revealed it likely overstated its first-half profit forecast by 250 million pounds ($391 million) because of an accounting error. In October, it said the overstated profit was GBP263 million.

Also higher were shares of Aggreko PLC , up 4.2% to top the FTSE 100 after the temporary-power provider said underlying trading profit in 2014 will be similar to that in 2013. Third-quarter results were in line with expectations.

The FTSE 100 was on track to rise 0.9% for the week.

You're invited: A free evening event focusing on investing opportunities in Europe

Will you be in London on Dec. 3? Then you're invited to our MarketWatch Investing Insights event, "The worse Europe gets, the more you should invest."

Governments are in trouble, reform efforts have stalled, unemployment is climbing. the news from the eurozone is bleak. And investors are fleeing. But that's a mistake: The worse the economic data from Europe get, the more you should be buying. Why? Because actions by the ECB will boost asset prices and the stock market in particular. And, big exporters can grow sales. Lower costs and steady sales translate into higher profits and dividends. Join us for an evening of cocktails and conversation to explore these opportunities.

Our panel will be led by MarketWatch Columnist Matthew Lynn, a renowned financial journalist based in London and the author of "Bust: Greece, the euro and the Sovereign Debt Crisis." He'll be joined by Mark Hulbert, MarketWatch columnist and editor of the Hulbert Financial Digest. This event is free, but RSVPs are required. It will be held Wednesday evening, Dec. 3, in London. For more information or to RSVP, send an email to marketwatchevent@wsj.com

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