GLNCY Glencore Plc (PK)

By Carla Mozee and Victor Reklaitis, MarketWatch

TalkTalk website hit by cyberattack

U.K. stocks ended higher Friday, beefing up their gain for the week, after China's central bank announced another round of cuts to interest rates.

The FTSE 100 climbed 1.1% to end at 6,444.08, helped in part by advances by miners, whose shares in recent months have been beaten down by investors worried about an economic slowdown in China, a major buyer for metals and energy products.

Commodities producer and trader Glencore PLC (GLEN.LN), whose shares still are down 60% this year, closed up 1.8% as a bigger intraday gain faded. Miner Anglo American PLC (AAL.LN)and iron ore heavyweight BHP Billiton PLC (BLT.LN) both finished 2.2% higher.

British blue chips rallied to intraday highs after the People's Bank of China cut its one-year deposit rate (http://www.marketwatch.com/story/china-cuts-key-interest-rates-reserve-ratio-2015-10-23) by 25 basis points to 1.5%, and its one-year lending rate by 25 basis points to 4.35%. It also relaxed reserve requirements for banks. The PBOC had previously cut interest rates in August and in June.

The FTSE 100 had been modestly higher following indications Thursday from European Central Bank President Mario Draghi the bank may expand stimulus measures for the eurozone, the U.K.'s largest trading partner. But the index's advance was limited in part by declines for some commodity shares.

"First, Super Mario (Draghi) came to the rescue. Now the People's Bank of China has eased its policy further...This is music to the ears of stock market bulls," said Fawad Razaqzada, technical analyst at Forex.com, in a note.

The FTSE 100 scored a weekly rise of 1%, marking its second weekly advance in three weeks.

Among the session's relatively few decliners was Pearson PLC (PSON.LN). The education specialist's shares slumped 5.2% in the wake of a plunge by rival firm Apollo Education Group Inc. (APOL) on Thursday, as Apollo swung to a quarterly loss (http://www.marketwatch.com/story/apollo-education-posts-loss-as-it-books-charges-2015-10-22). Pearson on Wednesday tumbled 16%, logging its biggest one-day drop on record after cutting its full-year forecast (http://www.marketwatch.com/story/pearson-cuts-guidance-warns-on-market-conditions-2015-10-21-24854416).

On the FTSE 250 midcap index , TalkTalk Telecom Group PLC (TALK.LN) shares finished down 4.4% after the website for the provider of broadband and mobile services underwent a "significant and sustained" cyberattack (http://www.marketwatch.com/story/talktalk-hacked-warns-4-million-customers-at-risk-2015-10-23). TalkTalk warned of a chance that data from its four million customers has been stolen. British police are investigating the breach.

William Hill PLC (WMH.LN) shares skidded 7.9% after the betting firm posted a 39% drop (http://www.marketwatch.com/story/william-hill-profit-down-39-on-win-margin-duties-2015-10-23) in third-quarter adjusted operating profit, in part because of higher gambling duties.

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(END) Dow Jones Newswires

October 23, 2015 12:15 ET (16:15 GMT)

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