By Carla Mozee, MarketWatch
LONDON (MarketWatch)--U.K. stocks fell Friday, but the benchmark
FTSE 100 still wrapped up its best monthly advance in nearly a
year.
The FTSE 100 ended the daily session down 0.9% at 6,749.40.47,
as shares of only 14 of its components moved higher.
A few mining and energy shares were among the top gainers
following a generally rough month for the sectors. Miner Randgold
Resources Ltd. advanced 4.9%, copper miner Fresnillo PLC rose 4.2%
and oil producer Tullow Oil PLC picked up 4%.
But BT Group PLC shares fell 2.6%. The telecom company posted a
better-than-expected rise in third-quarter profit to 558 million
pounds ($841 million), but revenue declined 3% to GBP4.47 billion,
below the consensus estimate of GBP4.49 billion. The company has
said it would pay GBP2 billion into their pension scheme over the
next three years. It said GBP1.5 billion of that will be paid
before the end of April.
Shares of International Consolidated Airlines Group PLC lost
grip of gains and fell 3.5%. They had been higher at the start of
trade after the British Airways parent said Qatar Airways had
bought a 9.99% stake in the company. IAG said it "welcomes Qatar
Airways' statement that it would look to strengthen existing
commercial ties."
The FTSE 100 closed January up by 2.8%, its best month since a
4.6% rise in February 2014, according to FactSet data. January's
gains have come alongside a broader monthly rally in European
stocks as investors responded to the European Central Bank's
massive bond-buying program.
"Whether the British benchmark can rise above 6,900 "will
depend, at least to some degree, on the general outcome of the U.K.
quarterly earnings season that is now under way," said Fawad
Razaqzada, technical analyst, at Forex.com, in a note.
Next week, investors are expected to receive financial updates
results from oil major BP PLC (BP) and drug maker AstraZeneca PLC
(AZN), among others.
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