London Markets: FTSE 100 trades choppy as data disappoint

By Preeti Upadhyaya, MarketWatch

LONDON (MarketWatch) ? U.K. stocks traded mixed Thursday as investors showed caution following a clutch of lackluster economic data reported out of the U.S., the euro zone and China.

The FTSE 100 index /quotes/zigman/3173262 UK:UKX +0.04% ?ended the session essentially flat at 5,776.60.

Federal Reserve Chairman Ben Bernanke.

Weak purchasing managers? data out of the eurozone signaled further contraction, with business activity falling for the seventh consecutive month. See: Euro-zone PMI for August signals further contraction

Across the Atlantic, initial filings for jobless benefits rose by 4,000, to a seasonally adjusted 372,000, in the week ended Aug. 18, according to the U.S. Labor Department. See: U.S. weekly jobless claims up slightly to 372,000

And discouraging manufacturing data reported overnight out of China prompted further calls for more stimulus by Beijing. See: China?s weak factory data prompt calls for easing

Stocks across Europe had climbed to start in the aftermath of the release of minutes from the July 31-Aug. 1 meeting of the Federal Reserve. The minutes suggested further monetary easing by the U.S. central bank could be on the horizon. See: Fed minutes show active discussion of QE3

In London, shares of mining firms came in for much investor scrutiny as metals prices moved broadly higher in futures trading Thursday. Read more.

Xstrata PLC /quotes/zigman/300486 UK:XTA +1.09% ?rose 1.1%, while Glencore International PLC /quotes/zigman/5131911 UK:GLEN +2.64% ?rose 2.6%. Glencore is in the process of merging with Xstrata. See: Glencore: Xstrata merger 'not a must-do deal'

Randgold Resources Ltd. /quotes/zigman/349729 UK:RRS +4.15% ?added 4.2% and Fresnillo PLC /quotes/zigman/510593 UK:FRES +3.93% ?jumped 3.9%. Polymetal International PLC was up 1.9%.

Antofagasta PLC /quotes/zigman/139152 UK:ANTO +2.86% ?climbed 2.9% and Vedanta Resources PLC /quotes/zigman/336962 UK:VED +0.97% ?traded 1% higher.

Shares of Anglo American PLC /quotes/zigman/470624 UK:AAL +1.65% ?picked up 1.7% as BHP Billiton PLC /quotes/zigman/184879 UK:BLT +0.69% ? /quotes/zigman/270355/quotes/nls/bhp BHP -0.89% ?moved 0.7% higher.

/conga/story/misc/europe_in_crisis.html 221714

Bucking the trend in mining, Petropavlovsk PLC /quotes/zigman/303217 UK:POG -15.97% tumbled 16% after reporting first-half net profit fell 90%. The miner, which trades outside the FTSE 100, cited high depreciation charges, currency translations and interest expenses on increased net debt. See: Petropavlovsk net profit sinks 90%, hit by charges

Kazakhmys PLC /quotes/zigman/391399 UK:KAZ -3.41% ?also moved to the downside, off 3.4% after reporting first-half results. It said its performance reflected ?lower metal prices and cost pressures.?

Also Thursday, British American Tobacco PLC /quotes/zigman/218491 UK:BATS +1.46% ?rose 1.5% as oil and gas production firm Tullow Oil PLC /quotes/zigman/271296 UK:TLW +1.23% ?added 1.2%.

Merkel facing tough choices

Germany's Angela Merkel faces one of the toughest choices of her career: whether to risk the unraveling of the euro zone or her government.

Moving in the opposite direction, banks came under selling pressure.

Shares of Royal Bank of Scotland Group PLC /quotes/zigman/10330253 UK:RBS -3.27% ? /quotes/zigman/530544/quotes/nls/rbs RBS -3.87% ?surrendered 3.3% as Barclays PLC /quotes/zigman/301787 UK:BARC -1.62% /quotes/zigman/152323/quotes/nls/bcs BCS -2.35% ?shed 1.6% and Standard Chartered PLC /quotes/zigman/22532 UK:STAN -0.61% ?dropped 0.6%.

Evraz PLC /quotes/zigman/7218774 UK:EVR -0.35% ?slipped 0.4%. Selling in the steel firm ensued after HSBC upgraded its rating to overweight from neutral.

IMI PLC /quotes/zigman/154461 UK:IMI -2.55% dropped 2.6% after releasing first-half results. The engineering company reported that the pace of revenue growth is likely to slow in the second half, citing ?weakening economic conditions in Europe.

SABMiller PLC /quotes/zigman/244740 UK:SAB -0.86% ?dropped 0.9% after Nomura Securities downgraded the brewer to reduce from neutral.

Also ending lower, shares of National Grid PLC /quotes/zigman/381306 UK:NG -1.08% ?fell 1.1% as Wm. Morrison Supermarkets PLC /quotes/zigman/155311 UK:MRW -1.04% ?lost 1%.

/quotes/zigman/3173262

UK : FTSE Indices

Volume: 0.00

Aug. 23, 2012 4:35p

/quotes/zigman/300486

UK : U.K.: London

Volume: 6.48M

Aug. 23, 2012 4:35p

Market Cap

?27.52 billion

Rev. per Employee

?510,384

/quotes/zigman/5131911

UK : U.K.: London

Volume: 17.70M

Aug. 23, 2012 4:35p

Market Cap

?24.69 billion

/quotes/zigman/349729

UK : U.K.: London

6,400.00 p

+255.00 +4.15%

Volume: 586,795

Aug. 23, 2012 4:35p

Rev. per Employee

?100,111

/quotes/zigman/510593

UK : U.K.: London

Volume: 859,109

Aug. 23, 2012 4:35p

Market Cap

?10.94 billion

Rev. per Employee

?512,014

/quotes/zigman/139152

UK : U.K.: London

Volume: 2.24M

Aug. 23, 2012 4:35p

Market Cap

?11.04 billion

Rev. per Employee

?764,775

/quotes/zigman/336962

UK : U.K.: London

Volume: 1.06M

Aug. 23, 2012 4:35p

Rev. per Employee

?272,834

/quotes/zigman/470624

UK : U.K.: London

Volume: 8.79M

Aug. 23, 2012 4:35p

Market Cap

?26.55 billion

Rev. per Employee

?183,228

/quotes/zigman/184879

UK : U.K.: London

Volume: 5.94M

Aug. 23, 2012 4:35p

Market Cap

?41.12 billion

/quotes/zigman/270355/quotes/nls/bhp

US : U.S.: NYSE

Volume: 976,711

Aug. 23, 2012 1:20p

Market Cap

$111.66 billion

/quotes/zigman/303217

UK : U.K.: London

Volume: 10.97M

Aug. 23, 2012 4:35p

Market Cap

?880.88 million

Rev. per Employee

?58,838

/quotes/zigman/391399

UK : U.K.: London

Volume: 4.58M

Aug. 23, 2012 4:35p

Rev. per Employee

?37,513

/quotes/zigman/218491

UK : U.K.: London

Volume: 2.39M

Aug. 23, 2012 4:35p

Market Cap

?63.50 billion

Rev. per Employee

?175,521

/quotes/zigman/271296

UK : U.K.: London

Volume: 3.11M

Aug. 23, 2012 4:35p

Market Cap

?12.51 billion

/quotes/zigman/10330253

UK : U.K.: London

Volume: 14.84M

Aug. 23, 2012 4:35p

Market Cap

?26.19 billion

Rev. per Employee

?254,327

/quotes/zigman/530544/quotes/nls/rbs

US : U.S.: NYSE

Volume: 133,875

Aug. 23, 2012 1:19p

Rev. per Employee

$423,098

/quotes/zigman/301787

UK : U.K.: London

Volume: 47.90M

Aug. 23, 2012 4:35p

Market Cap

?23.76 billion

Rev. per Employee

?285,159

/quotes/zigman/152323/quotes/nls/bcs

US : U.S.: NYSE

Volume: 1.73M

Aug. 23, 2012 1:20p

Rev. per Employee

$487,429

/quotes/zigman/22532

UK : U.K.: London

Volume: 3.75M

Aug. 23, 2012 4:35p

Market Cap

?33.57 billion

Rev. per Employee

?176,251

/quotes/zigman/7218774

UK : U.K.: London

Volume: 4.92M

Aug. 23, 2012 4:35p

Rev. per Employee

?91,343

/quotes/zigman/154461

UK : U.K.: London

Volume: 2.80M

Aug. 23, 2012 4:35p

Rev. per Employee

?148,226

/quotes/zigman/244740

UK : U.K.: London

Volume: 1.30M

Aug. 23, 2012 4:35p

Market Cap

?51.98 billion

Rev. per Employee

?147,263

/quotes/zigman/381306

UK : U.K.: London

Volume: 23.18M

Aug. 23, 2012 4:35p

Market Cap

?25.23 billion

Rev. per Employee

?539,364

/quotes/zigman/155311

UK : U.K.: London

Volume: 6.01M

Aug. 23, 2012 4:35p

Rev. per Employee

?134,619

Preeti Upadhyaya is a MarketWatch reporter, based in London.

Source: http://www.marketwatch.com/news/story.asp?guid=%7BBE0ADDB8-ECF8-11E1-B810-002128049AD6%7D&siteid=rss

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