By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- U.K. stocks seesawed between small gains
and losses on Thursday as investors were waiting for a speech by
Bank of England Governor Mark Carney later in the day.
The FTSE 100 index slipped 0.1% to 6,703.40, partly erasing a
0.5% gain from Wednesday. Most other European markets were on the
rise, after European Central Bank President Mario Draghi reiterated
that the Governing Council stands ready to "use additional
unconventional instruments" to fight off low inflation. Economists
expect the "unconventional" stimulus measures could be a full-scale
quantitative-easing program.
Carney: The U.K.'s central bank will also be in the spotlight,
with BOE boss Carney slated to speak in Wales in the afternoon. Sam
Fox, analyst at Spreadex, said in a note that volatility in the
pound should be expected during the speech as "investors speculate
on his words." Generally, investors have been listening closely to
comments from the BOE to try to gauge whether it will raise
interest rates this year or wait until 2015.
Movers: Shares of Direct Line Insurance Group climbed 0.9% after
the insurer said it's selling its international unit to Spanish
insurer Mapfre SA for 550 million euros ($705.62 million) and will
return the proceeds to shareholders.
Royal Bank of Scotland Group PLC (RBS) added 0.5% after the bank
said its Chairman Philip Hampton will step down during 2015 to
become GlaxoSmithKline PLC's (GSK) chairman. GSK shares were up
0.5%.
Shares of Ryanair Holdings PLC picked up 2.4% after the budget
airliner raised its full-year passenger guidance and said profit
would come in toward the top end of its previously guided
range.
On a more downbeat note, shares of Hammerson PLC dropped 1.7%
after the retail landlord said it will raise around 400 million
pounds ($652.8 million) by issuing new shares to buy 40% of
Highcross Shopping Centre in Leicester.
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