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Aug. 12, 2016, 12:01 p.m. EDT

FTSE 100 nudges to 7th straight win in choppy trade

Restaurant Group surges after new CEO announced

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By Barbara Kollmeyer and Sara Sjolin, MarketWatch


Reuters
Against the wind?

U.K. stocks ended a volatile session marginally higher, scoring a seventh straight win as analysts questioned how much steam the index has left.

The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -0.65%  rose 1.31 points, or just 0.02%, to end at 6,916.02, leaving the index 1.8% higher for the week. The seven-session win streak is its longest since an eight-day run in October 2015.

However, questions lingered about the scope for future gains as the index approaches important technical barriers.

“The question now is whether the blue chip index can power on to break the psychologically important 7,000 barrier,” said Neil Wilson, markets analyst at ETX Capital.

He said investors are hungry for U.K. equities as they hunt for yield against a backdrop of “a weak pound and collapsing bond yields,” he said, in a note to clients. The Bank of England ran into a purchasing shortfall on Tuesday as it could only find £1.12 billion ($1.45 billion) in debt maturing 15 years or longer. The central has ramped up stimulus efforts in the wake of the June Brexit vote.

The pound /zigman2/quotes/210561278/realtime/sampled GBPEUR -0.2299% continued to slide on Friday, dropping to €1.1576, a fresh post-Brexit low and the weakest its been against the euro since August 2013. Against the dollar /zigman2/quotes/210561263/realtime/sampled GBPUSD -0.4871% , sterling fell to $1.2934, down from $1.2956 late Thursday in New York.

Still, Wilson said, investors may ultimately find stocks are a bit pricey, and earnings will need to pick up to cover dividend payouts.

Click to Play

Multiple blasts hit southern Thailand

A series of bomb blasts shook southern Thailand late Thursday and early Friday, with the beach resort of Hua Hin hit particularly hard.

Movers: Stocks in the mining sector were leading decliners, as precious and industrial metals prices largely moved lower on Friday. A swath of China data missed expectations, including industrial output, and retail sales. China is a major importer of natural resources.

BHP Billiton PLC /zigman2/quotes/208108397/composite BHP -2.44%   /zigman2/quotes/201448516/delayed AU:BHP +0.30% fell 1.5%, Glencore PLC /zigman2/quotes/201400686/delayed UK:GLEN -1.79%   /zigman2/quotes/209462106/delayed GLCNF -1.97%   dropped 1.9% and Anglo American PLC /zigman2/quotes/201381512/delayed UK:AAL -3.11%  lost 3.2%.

Shares of Rio Tinto PLC /zigman2/quotes/208934945/delayed UK:RIO -2.94%   /zigman2/quotes/202627887/composite RIO -2.85%   /zigman2/quotes/200083756/delayed AU:RIO -0.56%  fell 3.2% after the head of Rio Tinto PLC’s iron-ore business, Chris Salisbury, said in a memo to staff on Friday that a proposed tax increase on its operations in Western Australia could result in further cuts to jobs and investment.

Betting group William Hill PLC  rose 1.5%. The company said Thursday that a merger proposal from rivals Rank Group PLC /zigman2/quotes/200887572/delayed UK:RNK -1.67% and 888 Holdings PLC /zigman2/quotes/206991878/delayed UK:888 -1.17%  lacked merit.

Shares of FTSE 250 company Restaurant Group PLC /zigman2/quotes/207518837/delayed UK:RTN +0.17%  shot up 11% after news Chief Executive Danny Breithaupt is stepping down and will be replaced by Andy McCue, who was recently the chief executive at Paddy Power Betfair PLC .

Economic docket: U.K. construction output data for June showed a 0.9% drop versus May and was down 2.2% over a year ago.

/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,032.30
-46.12 -0.65%
Volume: 650,983
July 30, 2021 4:57p
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/zigman2/quotes/210561278/realtime/sampled
US : Tullett Prebon
1.1717
-0.0027 -0.2299%
Volume: 0.0000
July 30, 2021 2:59p
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/zigman2/quotes/210561263/realtime/sampled
US : Tullett Prebon
1.3893
-0.0068 -0.4871%
Volume: 0.0000
July 30, 2021 2:59p
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/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 78.28
-1.96 -2.44%
Volume: 788,483
July 30, 2021 2:59p
P/E Ratio
28.30
Dividend Yield
3.99%
Market Cap
$186.21 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 53.49
+0.16 +0.30%
Volume: 7.13M
July 30, 2021 4:10p
P/E Ratio
26.93
Dividend Yield
3.86%
Market Cap
$251.62 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201400686/delayed
UK : U.K.: London
323.55 p
-5.90 -1.79%
Volume: 26.48M
July 30, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
2.67%
Market Cap
£43.90 billion
Rev. per Employee
£765,499
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/zigman2/quotes/209462106/delayed
US : U.S.: OTC
$ 4.47
-0.09 -1.97%
Volume: 13,613
July 30, 2021 1:49p
P/E Ratio
N/A
Dividend Yield
2.68%
Market Cap
$61.35 billion
Rev. per Employee
$981,641
loading...
/zigman2/quotes/201381512/delayed
UK : U.K.: London
3,190.50 p
-102.50 -3.11%
Volume: 3.30M
July 30, 2021 4:35p
P/E Ratio
24.78
Dividend Yield
5.48%
Market Cap
£40.79 billion
Rev. per Employee
N/A
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/zigman2/quotes/208934945/delayed
UK : U.K.: London
6,101.00 p
-185.00 -2.94%
Volume: 2.27M
July 30, 2021 4:35p
P/E Ratio
7.20
Dividend Yield
10.26%
Market Cap
£104.73 billion
Rev. per Employee
£732,787
loading...
/zigman2/quotes/202627887/composite
US : U.S.: NYSE
$ 86.14
-2.53 -2.85%
Volume: 1.74M
July 30, 2021 2:58p
P/E Ratio
7.43
Dividend Yield
7.96%
Market Cap
$146.37 billion
Rev. per Employee
$947,003
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 133.42
-0.75 -0.56%
Volume: 2.23M
July 30, 2021 4:10p
P/E Ratio
8.73
Dividend Yield
4.60%
Market Cap
$197.78 billion
Rev. per Employee
$1.36M
loading...
/zigman2/quotes/200887572/delayed
UK : U.K.: London
164.40 p
-2.80 -1.67%
Volume: 189,459
July 30, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£783.21 million
Rev. per Employee
£75,071
loading...
/zigman2/quotes/206991878/delayed
UK : U.K.: London
372.00 p
-4.40 -1.17%
Volume: 425,221
July 30, 2021 4:35p
P/E Ratio
147.62
Dividend Yield
2.65%
Market Cap
£1.40 billion
Rev. per Employee
£397,010
loading...
/zigman2/quotes/207518837/delayed
UK : U.K.: London
114.80 p
+0.20 +0.17%
Volume: 850,941
July 30, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£875.88 million
Rev. per Employee
£33,013
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Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter @bkollmeyer. Sara Sjolin is a MarketWatch reporter based in London. Follow her on Twitter @sarasjolin.

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