This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
LONDON (The Deal) -- European stock indices moved higher on Friday but losers outnumbered gainers in Asia as investors worried about rising money-market rates in China.
In London, the FTSE rose 0.45% to 6,614.32. Cruises operator Carnival(CCL) rose after Credit Suisse lifted its recommendation to outperform from neutral but aerospace company BAE Systems fell sharply after it announced late Thursday that the United Arab Emirates had walked away from a potential 6 billion pounds ($9.8 billion) order of up to 60 Typhoon fighter jets after long-running talks, while Saudi Arabia had failed so far to agree on a price for as many as 72 of the jets with the company. If the Saudi deal doesn't materialize 2013 earnings per share will be lower than it expected, the company said.
In Frankfurt, the DAX was up 0.59% at 9,391.23. In Paris, the CAC 40 gained 0.31% to 4,189.78.
Standard & Poor's stripped the European Union of the coveted AAA long-term credit rating, downgrading it to AA+ with a stable outlook, and putting pressure on the euro.
In Hong Kong, Richard Li's media and telecommunications company PCCW ended up 6% after agreeing to buy back Telstra's Hong Kong wireless services unit in a deal that would give PCCW's HKT unit about a third of that market. It is paying $2.43 billion to Telstra and minority shareholder New World Developments for the business.
But the Hang Seng closed down 0.33% to 22,812.18 and mainland Chinese indices fell further on concern a central bank liquidity injection won't be enough to temper rising interbank lending rates.
In Tokyo, the Nikkei edged up 0.07% to 15,870.42, a new six-year high.