By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- U.K.'s FTSE 100 index was little changed
on Friday, as ARM Holdings PLC rallied on news Google may use its
technology, while RSA Insurance PLC tumbled after the chief
executive resigned.
The benchmark index was flat around 6,445.30, but on track for a
1.6% weekly loss.
Shares of ARM Holdings (ARMHY) jumped 5.5% after Bloomberg
reported that Google Inc. (GOOG) is considering making its own
server processors, using technology from the U.K. chip
designer.
RSA Insurance Group PLC slumped 18% after Chief Executive Simon
Lee resigned and the company warned that its troubled Irish unit
will hit 2013 earnings.
Among other stocks, shares of AstraZeneca PLC rose 2.2% after
the drug maker said an experimental gout drug met its goal in a
late-stage clinical trial.
Most mining firms were higher after UBS lifted the sector to
overweight from neutral. Glencore Xstrata PLC (GLCNF) rose 1%, BHP
Billiton PLC (BHP) climbed 0.6% and Randgold Resources Ltd. inched
0.2% higher.
Anglo American PLC , however, lost 0.8% after Deutsche Bank cut
the miner to hold from buy.
Oil firms further slipped as oil prices dropped and UBS cut the
oil and gas sector to neutral from overweight. Royal Dutch Shell
PLC (RDSB) dropped 1% and BP PLC (BP) lost 0.5%.
Centrica PLC gave up 0.9% after Société Générale cut the
gas-utility firm to hold from buy, according to Dow Jones
Newswires.
More from MarketWatch:
Markets up, but retirements still at risk
Rich bet on 'sane' subprime
Investor bullishness looks 'horrifying'
Subscribe to WSJ: http://online.wsj.com?mod=djnwires