By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- Shares of Marks & Spencer Group PLC
led U.K. stocks higher on Thursday after reporting fourth-quarter
sales growth, while steelmaker Evraz tumbled after warning of risks
in global steel markets.
The FTSE 100 index added 0.1% to 6,385.12, on track for a fourth
straight day of gains.
Marks & Spencer rose 3%, after the retailer reported a 3.1%
growth in group sales for fourth quarter, but said the cautious
outlook for the year remains unchanged.
Reckitt Benckiser Group PLC put on 1.2%, as Barclays lifted the
Vanish and Strepsils maker to equal-weight from underweight.
Within the European consumer-staples space Barclays pointed to
Diageo PLC , down 0.2% and Unilever PLC (UL), up 0.5%, as preferred
names.
On a more downbeat note in London, shares of Evraz PLC sank
9.2%, after saying it sees strong downside risks to global steel
markets in 2013 as the economic environment remains fragile. The
firm's board recommended canceling a final 2012 dividend.
Other mining firms were also moving lower, tracking declines for
most metals prices. Shares of Eurasian Natural Resources Corp. lost
5%, Anglo American PLC gave up 1.4% and Antofagasta PLC dropped
0.9%.
Bucking the negative trend among miners, Rio Tinto PLC (RIO)
rose 1.2%, as people familiar with the situation said the firm is
looking for a buyer for its 57% stake in Ivanhoe Australia Ltd.
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