European Indexes Rise

Markets added to gains Friday as Wall Street showed strength

London: The FTSE (+0.56%) ended comfortably higher, above the 6000 level, on Friday as Wall Street was trading in the black session following in-line inflation data and a better than expected Chicago PMI. A bomb found in a car in London's busy Haymarket has been defused. The bomb could have caused significant loss of life, London's head of anti-terrorist police Peter Clarke told reporters. £ is at US$2.0064. UK May mortgage approvals came in stronger than expected, while first quarter GDP stays unrevised. WTI trades at US$69.81/bbl. In broker action, mining stocks felt the heat after Exane-BNP Paribas said that now is a good time to secure some profits following the sector's impressive strong performance YTD. The real estate sector was hit after HSBC cut price targets on property stocks. Northern Rock (+4.34%) surges after Goldman Sachs upgraded the stock to buy from neutral and add it to the Conviction Buy list. In company news, investors dialled up BT (+1.06%) after CEO Ben Verwaayen painted a positive picture of sales during a Bloomberg interview. Utility company Drax (-2.02%) sank after saying is trading in line with expectations.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.