London Markets: FTSE 100 aims for five-year high

By Sara Sjolin, MarketWatch

LONDON (MarketWatch) ? U.K. stocks extended gains on Friday, setting the benchmark index on track for a five-year high, as banks and resource firms moved higher after upbeat Chinese export data.

The FTSE 100 /quotes/zigman/3173262 UK:UKX +0.39% ?rose 0.5% to 6,470.04, on track for the highest closing level since January 2008.

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Banks posted some of the biggest gains in the index, rising as better-than-expected data from China lured investors into taking on more risk.

Data from the General Administration of Customs showed exports rose 21.8% in February, beating expectations of a 5% rise, with the increasing demand for Chinese goods suggesting a rebound in the global economy. See: China trade surplus narrows, but exports rising

Shares of HSBC Holdings PLC /quotes/zigman/13843 UK:HSBA +2.16% ? /quotes/zigman/207333/quotes/nls/hbc HBC +0.26% ? /quotes/zigman/13834 HK:5 +1.80% ?added 1.9%, Lloyds Banking Group PLC /quotes/zigman/255656/quotes/nls/lyg LYG -2.27% ? /quotes/zigman/126322 UK:LLOY +1.02% ? gained 1.7% and Standard Chartered PLC /quotes/zigman/22532 UK:STAN +0.64% ?put on 1.3%.

Resource firms were also on the rise as most commodities moved higher. Shares of miner Vedanta Resources PLC /quotes/zigman/336962 UK:VED +0.08% ?climbed 0.6% and Antofagasta PLC /quotes/zigman/139152 UK:ANTO +0.28% ?rose 0.5% even as Credit Suisse cut the mining sector to underweight from neutral.

Heavyweight oil firm Royal Dutch Shell PLC /quotes/zigman/359955 UK:RDSB -0.10% ? /quotes/zigman/379012/quotes/nls/rds.b RDS.B +0.53% ?picked up 0.5%.

Vodafone shares rise as the firm secures a 10-year deal with the New Zealand police.

Further among notable gainers, shares of Vodafone PLC /quotes/zigman/421253 UK:VOD +1.55% ? /quotes/zigman/101873/quotes/nls/vod VOD -0.13% ?added 1.2%, as the wireless telecom firm secured a 10-year deal with the New Zealand police to deliver customized mobile services and smartphones. See: Vodafone gets 10-year pact from New Zealand police

Schroders PLC /quotes/zigman/257601 UK:SDR +1.63% ?gained 2.6%, as UBS lifted the investment manager to neutral from sell.

On a downbeat note, shares of Centrica PLC /quotes/zigman/357817 UK:CNA -0.96% shaved off 1.6%, after J.P. Morgan Cazenove cut the utility firm to neutral from overweight.

United Utilities Group PLC /quotes/zigman/514680 UK:UU -1.38% ?eased 1.5%.

Shares of Marks & Spencer Group PLC /quotes/zigman/298234 UK:MKS -0.25% gave up 0.7%, after Credit Suisse initiated coverage of the retailer with an underperform rating.

/quotes/zigman/3173262

UK : FTSE Indices

Volume: 0.00

March 8, 2013 12:06p

/quotes/zigman/13843

UK : U.K.: London

Volume: 8.58M

March 8, 2013 12:06p

Market Cap

?132.28 billion

Rev. per Employee

?190,935

/quotes/zigman/207333/quotes/nls/hbc

US : U.S.: NYSE

Volume: 1.06M

March 7, 2013 4:06p

Market Cap

$199.14 billion

Rev. per Employee

$302,553

/quotes/zigman/13834

HK : Hong Kong

Volume: 20.48M

March 8, 2013 4:01p

Market Cap

HK$1544.51 billion

Rev. per Employee

HK$2.35M

/quotes/zigman/255656/quotes/nls/lyg

US : U.S.: NYSE

Volume: 2.84M

March 7, 2013 4:09p

Rev. per Employee

$724,729

/quotes/zigman/126322

UK : U.K.: London

Volume: 47.71M

March 8, 2013 12:06p

Market Cap

?35.93 billion

Rev. per Employee

?454,998

/quotes/zigman/22532

UK : U.K.: London

Volume: 1.40M

March 8, 2013 12:06p

Market Cap

?42.88 billion

Rev. per Employee

?191,085

/quotes/zigman/336962

UK : U.K.: London

Volume: 102,005

March 8, 2013 11:58a

Rev. per Employee

?293,882

/quotes/zigman/139152

UK : U.K.: London

Volume: 707,324

March 8, 2013 12:06p

Market Cap

?10.49 billion

Rev. per Employee

?787,887

/quotes/zigman/359955

UK : U.K.: London

Volume: 2.33M

March 8, 2013 12:06p

Market Cap

?142.32 billion

/quotes/zigman/379012/quotes/nls/rds.b

US : U.S.: NYSE

Volume: 971,117

March 7, 2013 4:02p

Market Cap

$214.25 billion

/quotes/zigman/421253

UK : U.K.: London

Volume: 37.10M

March 8, 2013 12:06p

Market Cap

?88.08 billion

Rev. per Employee

?517,257

/quotes/zigman/101873/quotes/nls/vod

US : U.S.: Nasdaq

Volume: 16.48M

March 7, 2013 4:00p

Market Cap

$132.60 billion

Rev. per Employee

$867,308

/quotes/zigman/257601

UK : U.K.: London

Volume: 283,652

March 8, 2013 12:05p

Rev. per Employee

?512,254

/quotes/zigman/357817

UK : U.K.: London

Volume: 4.71M

March 8, 2013 12:06p

Market Cap

?18.53 billion

Rev. per Employee

?607,172

/quotes/zigman/514680

UK : U.K.: London

Volume: 1.48M

March 8, 2013 12:05p

Rev. per Employee

?313,010

/quotes/zigman/298234

UK : U.K.: London

Volume: 1.29M

March 8, 2013 12:05p

Rev. per Employee

?122,574

Sara Sjolin is a MarketWatch reporter based in London. Follow her on Twitter @sarasjolin.

Source: http://www.marketwatch.com/news/story.asp?guid=%7B1E54C2F2-87D0-11E2-9477-002128040CF6%7D&siteid=rss&rss=1

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