By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- U.K. stocks were little changed Friday,
as shares of miner Glencore PLC slipped, while shares of British
Airways's parent company surged. But the benchmark FTSE 100 remains
on track to post a monthly gain.
The FTSE 100 edged down 2 points to 6,947, easing from a record
closing high notched in the previous session. It was the second
record closing high for the blue-chip index this week; on Tuesday,
it marked its best close since December 1999
(http://www.marketwatch.com/story/what-the-ftse-100-closing-at-its-highest-level-in-15-years-means-2015-02-24).
For the month, the index was up about 3%, which would be its
best monthly rise since February 2014, according to FactSet
data.
Surging to the top of the index was International Consolidated
Airlines Group SA , with shares rising 4.3% as the British Airways
operator increased its 2015 operating profit target
(http://www.marketwatch.com/story/iag-profit-jumps-ups-operating-profit-target-22-2015-02-27)
by 22%. The move was made possible in part by lower fuel costs as
the carrier reported a jump in net profit 309 million euros ($346
million).
Lloyds Banking Group PLC also moved higher, up 1.5% as the bank
said it will pay its first dividend since being bailed out
(http://www.marketwatch.com/story/lloyds-resumes-dividends-as-it-returns-to-profit-2015-02-27)
by the U.K. government during the financial crisis. The recommended
dividend is 0.75 pence a share for 2014. Lloyds also said it swung
to a profit of GBP1.13 billion ($1.74 billion).
Meanwhile, Glencore PLC shares fell 0.3% as the mining company
said it plans to reduce Australian coal production
(http://www.marketwatch.com/story/glencore-cuts-australian-coal-production-2015-02-27)
by around 15%, citing subdued demand.
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