By Sara Sjolin, MarketWatch
LONDON (MarketWatch) ? U.K. stocks ended a volatile session on an upbeat note on Wednesday, as rising shares of Vodafone Group PLC provided support, although banks and mining firms on the decline added pressure.
The FTSE 100 index /quotes/zigman/3173262 UK:UKX +0.06% ?inched 0.1% higher to close at 5,803.28, after swinging between small gains and losses.
/conga/story/misc/fiscal_cliff.html 237980Shares of Vodafone /quotes/zigman/421253 UK:VOD +0.89% ? /quotes/zigman/101873/quotes/nls/vod VOD +0.98% supported the index, up 0.9%, after Fitch Ratings affirmed the wireless telecom firm?s rating at A- and said the outlook is stable. The analysts highlighted that Vodafone benefits from global scale, diverse operations, sound liquidity, and stable cash flow generation.
Also on the rise, shares of United Utilities /quotes/zigman/514680 UK:UU +2.77% ?added 2.6%, after the firm reported a rise in earnings per share for the six months ended Sept. 30 and said it?s on track to meet its regulatory targets. See: United Utilities profit up, on track for targets
Shares of BP PLC /quotes/zigman/210014 UK:BP -0.50% ? /quotes/zigman/247026/quotes/nls/bp BP -0.35% ?gave up 0.4%, after the U.S. Environmental Protection Agency said it has temporarily suspended the oil major from new contracts with the government.
Pointing in the other direction, shares of Bunzl PLC /quotes/zigman/378681 UK:BNZL -4.00% ?dropped 4% to 10.31 pounds ($16.50), after Citigroup cut the consumer-products firm?s price target to ?11.90 from ?12.50 to reflect a new earnings forecast.
Resolution Ltd. shares /quotes/zigman/602765 UK:RSL -0.47% ?slipped 0.6%, after UBS cut the insurer to neutral from buy. The analysts said they expect the firm to miss its 2013 targets.
Cars that monitor a driver's health
Auto makers are researching technology that could feed your heart rate, blood pressure and other biometric responses into the car's computers, the better to determine when you're drowsy or overwhelmed with distracting media.
Most U.K. stocks were for most of the session weighed by comments from U.S. Senate Majority Leader Harry Reid. The Nevada Democrat said late Tuesday that only little progress has been made in negotiations between Democrats and Republicans to avert the so-called fiscal cliff, slated to trigger automatic spending cuts and tax hikes in the new year. See: Senate fiscal cliff bickering spooks market
Stocks, however, staged a comeback late in the day as House Speaker John Boehner, Republican from Ohio, said he was optimistic that a deal can be reached with President Obama to avoid the cliff.
Among other notable movers in London, miners posted some of the biggest losses, as metals prices headed south. See: Gold slumps on firm dollar and See: Crude oil pushes lower ahead of supply data
Mining firms decline in Wednesday?s action, as metals prices fall.Shares of heavyweight miner BHP Billiton PLC /quotes/zigman/184879 UK:BLT -0.44% ? /quotes/zigman/270355/quotes/nls/bhp BHP +0.28% ? /quotes/zigman/180893 AU:BHP -0.58% ?dropped 0.5%, while Fresnillo PLC /quotes/zigman/510593 UK:FRES -1.46% and Rio Tinto PLC /quotes/zigman/155899 UK:RIO -1.21% /quotes/zigman/182541/quotes/nls/rio RIO -0.70% /quotes/zigman/176317 AU:RIO -1.87% ?both tripped 1.3%.
Most banks were also on the decline. Shares of Lloyds Banking Group PLC /quotes/zigman/255656/quotes/nls/lyg LYG +0.68% /quotes/zigman/126322 UK:LLOY -0.68% ??gave up 1% and Barclays PLC /quotes/zigman/301787 UK:BARC -0.49% /quotes/zigman/152323/quotes/nls/bcs BCS +0.10% ?fell 0.6%.
Shares of Smith & Nephew PLC /quotes/zigman/263642 UK:SN -0.91% ? /quotes/zigman/264745/quotes/nls/snn SNN -0.67% ?gave up 1.2%. The health care firm said it agreed to buy the assets of Healthpoint Biotherapeutics, a wound-care-treatment developer, for $782 million in cash. See: Smith & Nephew buys Healthpoint Biotherapeutics
Shares of Marks & Spencer Group PLC /quotes/zigman/298234 UK:MKS +2.16% ?added 2.2%, after the firm agreed on a 10-year funding plan with its pension trustees. See: Marks & Spencer okays plan with pension trustees
ARM Holdings PLC shares /quotes/zigman/254777 UK:ARM +1.78% ? /quotes/zigman/67211/quotes/nls/armh ARMH +1.91% added 1.9% to ?7.72 a share, as Barclays lifted the chip maker?s target price to ?8.20 from ?7.50.
?We continue to view ARM as one of the best positioned shares globally when it comes to smartphone and tablet growth,? the analysts said.
/quotes/zigman/3173262
UK : FTSE Indices
Volume: 0.00
Nov. 28, 2012 4:35p
/quotes/zigman/421253 UK : U.K.: London
Volume: 85.31M
Nov. 28, 2012 4:24p
Market Cap?77.16 billion
Rev. per Employee?517,257
/quotes/zigman/101873/quotes/nls/vod US : U.S.: Nasdaq
Volume: 7.88M
Nov. 28, 2012 1:19p
Market Cap$124.24 billion
Rev. per Employee$824,819
/quotes/zigman/514680 UK : U.K.: London
Volume: 4.19M
Nov. 28, 2012 4:35p
Rev. per Employee?307,084
/quotes/zigman/210014 UK : U.K.: London
Volume: 57.63M
Nov. 28, 2012 4:35p
Market Cap?82.19 billion
/quotes/zigman/247026/quotes/nls/bp US : U.S.: NYSE
Volume: 6.65M
Nov. 28, 2012 1:19p
Market Cap$131.74 billion
/quotes/zigman/378681 UK : U.K.: London
Volume: 1.23M
Nov. 28, 2012 4:35p
Rev. per Employee?441,594
/quotes/zigman/602765 UK : U.K.: London
Volume: 2.48M
Nov. 28, 2012 4:35p
Rev. per Employee?996,686
/quotes/zigman/184879 UK : U.K.: London
Volume: 4.37M
Nov. 28, 2012 4:35p
Market Cap?41.05 billion
Rev. per Employee?983,627
/quotes/zigman/270355/quotes/nls/bhp US : U.S.: NYSE
Volume: 1.32M
Nov. 28, 2012 1:19p
Market Cap$114.63 billion
/quotes/zigman/180893 AU : Australia: Sydney
Volume: 5.33M
Nov. 28, 2012 4:32p
Market Cap$109.67 billion
/quotes/zigman/510593 UK : U.K.: London
Volume: 586,327
Nov. 28, 2012 4:35p
Market Cap?14.20 billion
Rev. per Employee?512,014
/quotes/zigman/155899 UK : U.K.: London
Volume: 3.48M
Nov. 28, 2012 4:24p
Market Cap?42.03 billion
Rev. per Employee?527,959
/quotes/zigman/182541/quotes/nls/rio US : U.S.: NYSE
Volume: 3.98M
Nov. 28, 2012 1:19p
Rev. per Employee$836,487
/quotes/zigman/176317 AU : Australia: Sydney
Volume: 3.21M
Nov. 28, 2012 4:43p
Rev. per Employee$821,334
/quotes/zigman/255656/quotes/nls/lyg US : U.S.: NYSE
Volume: 884,778
Nov. 28, 2012 1:18p
Rev. per Employee$574,687
/quotes/zigman/126322 UK : U.K.: London
Volume: 90.75M
Nov. 28, 2012 4:25p
Market Cap?31.76 billion
Rev. per Employee?360,302
/quotes/zigman/301787 UK : U.K.: London
Volume: 32.82M
Nov. 28, 2012 4:35p
Market Cap?29.83 billion
Rev. per Employee?276,634
/quotes/zigman/152323/quotes/nls/bcs US : U.S.: NYSE
Volume: 2.66M
Nov. 28, 2012 1:19p
Rev. per Employee$437,826
/quotes/zigman/263642 UK : U.K.: London
Volume: 3.27M
Nov. 28, 2012 4:35p
Rev. per Employee?246,078
/quotes/zigman/264745/quotes/nls/snn US : U.S.: NYSE
Volume: 11,961
Nov. 28, 2012 1:03p
Rev. per Employee$384,867
/quotes/zigman/298234 UK : U.K.: London
Volume: 11.02M
Nov. 28, 2012 4:35p
Rev. per Employee?122,574
/quotes/zigman/254777 UK : U.K.: London
Volume: 5.50M
Nov. 28, 2012 4:35p
Market Cap?10.46 billion
Rev. per Employee?260,113
/quotes/zigman/67211/quotes/nls/armh US : U.S.: Nasdaq
Volume: 1.48M
Nov. 28, 2012 1:19p
Rev. per Employee$412,193
Sara Sjolin is a MarketWatch reporter based in London. Follow her on Twitter @sarasjolin.
Source: http://feedproxy.google.com/~r/marketwatch/financial/~3/LVgHdly2xHw/story.asp
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