By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- The U.K.'s FTSE 100 benchmark rose
Friday, aiming for its first win in two sessions, but still on
track for a loss for a week that saw fears about stagnating global
growth drive the benchmark into a correction.
The FTSE 100 rose 0.9% to 6,252, but a weekly fall of roughly
1.4% remained in store. At its lowest point during the week, the
benchmark was down 10% from its 2014 high reached in May, marking a
correction. European, U.S. and Asian equities were also battered
this week, with most major indexes in the red.
The chief economist at the Bank of England, Andrew Haldane, on
Friday said he's become "gloomier" over the past three months about
the outlook for the U.K. economy, which overall has recently
recovered at a stronger pace than other developed economies.
Haldane also said the U.K.'s benchmark interest rate, which
currently sits at a record low of 0.5%, could remain "lower, for
longer" without pushing inflation higher than the bank's 2%
target.
Investors will monitor a speech by U.S. Federal Reserve
Chairwoman Janet Yellen for any comments she may make about the
outlook of the world's largest economy. She's slated to begin
speaking in Boston at 1:30 p.m. London time, or 8:30 a.m. Eastern
Time.
Stocks in focus: Shares of Petrofac Ltd. leapt 5.3% after the
provider of services to the oil and gas industry said it's on track
to meet its full-year profit expectations, in the range of $580
million to $600 million.
But Rolls-Royce Holding PLC shares skidded 11% lower after the
company cut its full-year sales projection. The engine maker said
it's received a number of canceled or delayed orders as economic
conditions have worsened and Russian trade sanctions have
tightened.
Carnival PLC lost 4%, hitting intraday lows after reports that a
health care worker who handled lab samples from a man who died from
the Ebola virus in Dallas was found on one of the company's cruise
ships in the Caribbean. "At no point in time has the individual
exhibited any symptoms or signs of infection and it has been 19
days since she was in the lab with the testing samples," Carnival
said in a statement sent to MarketWatch. The health care worker was
in isolation on the ship and isn't deemed to be a risk to other
passengers or the crew, Carnival said.
Meanwhile, Tullow Oil PLC jumped 7.6%. The company said it plans
to resume exploration activities at a number of its oil sites in
Kenya after resolving a dispute with workers, according to a Dow
Jones Newswires report.
Royal Mail PLC shares picked up 3.1% following a ratings upgrade
to equal-weight from underweight at Morgan Stanley. "Although we
believe Royal Mail continues to face many challenges, following the
fall in the share price, the risk-reward is now more balanced,"
analysts wrote to clients.
Jimmy Choo PLC shares made their trading debut in London, priced
at 140 pence each ($2.27), the bottom of an expected range. Shares
were up 0.4% in afternoon action.
Also, Virgin Money PLC delayed the float of its shares in
London, citing turbulent market conditions as reason for the
move.
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