By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- U.K. stocks rose Friday, with shares of
Rolls-Royce Holdings PLC gaining after the company landed a
multibillion-dollar order, and the move helping the FTSE 100 finish
higher for the week.
The FTSE 100 rose 0.6% to 6,716.79. It was on track to gain 0.9%
on a weekly basis, which would mark its fourth straight weekly
win.
Gains picked up pace in the U.K. and broader European markets
after European Central Bank President Mario Draghi on Friday
signaled the central bank is set to expand its asset-purchase
programs if inflation remains persistently low.
Shares of Rolls-Royce climbed 0.5% as the company said it won a
$5 billion order from Delta Air Lines (DAL) to make engines and
provide support for 50 new aircraft. Rolls-Royce's Trent XWB
engines will power 25 Airbus A350s, and its Trent 7000 engines will
power 25 Airbus A330neo aircraft.
Other advancers include Tullow Oil PLC , whose shares climbed
3.4%. The oil-exploration company's shares are up more than 6% for
the week, reflecting speculation that OPEC at its meeting next week
may agree to cut output in an effort to stem the recent slide in
oil prices.
On the FTSE 250 index, shares of Serco Group PLC dropped 6.7%
after the outsourcing firm's rating at Credit Suisse was cut to
underperform from neutral. After Serco last week unveiled
"significant onerous contract provisions and the risk of more to
come, we see huge uncertainty around the operational cash flows of
the business," wrote analyst Karl Green in a Friday note.
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