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