By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- A steep decline for Experian PLC weighed
on the FTSE 100 index on Wednesday, while better-than-expected data
on industrial production helped the benchmark curb losses.
The benchmark index slipped 0.1% to close at 6,741.69, building
on a 0.3% loss from Tuesday.
The loss came even as the Office for National Statistics said
output from British factories climbed 0.9% in September from August
and increased 2.2% on an annual basis. The figures were stronger
than expected, as economists had forecast a monthly rise of 0.5%
and an annual increase of 1.7%.
Adding pressure in London, shares of Experian PLC slid 6.4%
after the credit-data provider said it agreed to buy Passport
Health Communications Inc. for $850 million, subject to regulatory
approval. The company posted a sharp rise in half-year profit.
On a more upbeat note, shares of Associated British Foods PLC
climbed 2.8% to 22.69 pounds ($36.55) after Morgan Stanley
reiterated its overweight rating on the Primark-owner and lifted
the price target to GBP24.10 from GBP22.65.
Shares of Old Mutual PLC added 2.3% after the global insurer
reported a rise in third-quarter sales as conditions in the U.S.
and U.K. improved.
EasyJet PLC rose 0.9% after the no-frills airliner said
passenger traffic climbed 5.4% in October. The gain for EasyJet
came even as HSBC cut the firm to underweight from neutral.
In Dublin, Ryanair Holdings PLC gained 2% after HSBC lifted the
budget airliner to overweight from neutral, given recent weakness.
The company sank 13% on Monday after it cut its full-year outlook
due to a dip in average fares.
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