By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- U.K.'s FTSE 100 index rose for a third
straight day on Wednesday, with oil firms tracking oil prices
higher and Diageo PLC climbing after a well-received earnings
report.
The benchmark rose 0.8% to close at 6,621.06, building on a 0.2%
gain from Tuesday.
Drinks maker Diageo PLC (DEO) climbed 3.2% after reporting a
rise in full-year profit and revenue, although it warned of some
weakness in emerging markets and continued trouble in western
Europe.
Brewer SABMiller PLC , which makes Miller Lite and Peroni, put
on 2.6%.
Oil firms further helped lift the index in London as oil prices
moved higher. Shares of BP PLC (BP) put on 0.7%, Royal Dutch Shell
PLC (RDSB) added 1%, and BG Group PLC rose 1%.
Among other resource firms, miner Antofagasta PLC gained 0.8%,
after reporting an 8.4% increase in copper production in the first
half of the year.
Shares of British American Tobacco PLC (BTI) put on 1.3% after
the firm posted a rise in half-year profit and said it is confident
of a year with good earnings growth.
Shares of Centrica PLC rose 1.4% after the gas utility raised
dividends 6% and said it remains on track to deliver earnings
growth in line with expectations for the full year.
Shares of GKN PLC inched 0.5% higher after J.P. Morgan Cazenove
lifted the engineering group to overweight from neutral. The
analysts pointed to the company's better-than-expected first-half
results. GKN rallied 6.5% on Tuesday, after reporting a 12% rise in
sales.
In the same vein, shares of ITV PLC gained 1% after Deutsche
Bank upgraded the TV broadcaster to hold from sell.
On a more downbeat note, shares of Barclays PLC (BCS) shaved off
1.2%, adding to a 5.7% loss from Tuesday, when the bank announced
plans to issue 5.8 billion pounds ($8.8 billion) in new shares to
address a capital shortfall.
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