The UK stocks opened 0.14% higher at 5,847.42 today as the world witnesses superpower USA heading to polls. Although, the attraction of the day remained US presidential elections, investors had plenty other issues to remain busy until Americans cast their vote later today.
A number of trading updates and results of heavyweight stocks such as M&S, G4S, Babcock and InterContinental Hotels kept the UK stock market busy. The latest news on polls suggests that President Barack Obama has a slight lead over Mitt Romney.
Chip designer ARM Holdings stocks rose after it announced acquiring the patent portfolio of MIPS Technologies, the US semiconductor design company, to minimise the risk of expensive patent infringement suits.
Retailer Marks & Spencer climbed after announcing second-quarter revenue gained 2.5%, driven by food sales and the group’s international stores. Associated British Foods also rose after posting higher profits and revenues this year.
InterContinental Hotels Group advanced after registering growth in revenue per available room across all regions in the third quarter.
Security group G4S was higher after saying it “remains on track to meet its cash conversion target of 85% of PBITA [profit before interest, tax and amortisation] for the full year.”
Engineering support services group Babcock fell despite in-line earnings in the first half and a robust increase in its order book.
The top gainers in the UK stock market today are ARM Holdings 721.00p +3.74%, Resolution Ltd. 227.80p +2.98%, G4S 267.90p +2.72%, Marks & Spencer Group 395.00p +1.83%, InterContinental Hotels Group 1,549.00p +1.64%, Lloyds Banking Group 43.45p +1.41%, Kingfisher 290.40p +1.18%, Capital Shopping Centres Group 339.30p +0.86%, Aviva 336.30p +0.81%, and ITV 88.05p +0.80%.
The top losers in the UK stock market today are Babcock International Group 950.50p -3.89%, Admiral Group 1,052.00p -1.41%, Standard Chartered 1,463.50p -1.31%, Weir Group 1,811.00p -1.09%, AstraZeneca 2,880.50p -0.40%, GKN 212.70p -0.37%, British American Tobacco 3,119.00p -0.29%, Bunzl 1,018.00p -0.29%, Tate & Lyle 736.00p -0.27%, and Pearson 1,237.00p -0.24%.