Stock market live Oct 23: Top gainers-ARM Holdings, Experian, Wolseley

Written on:October 23, 2012
Add One
Gold coins

Gold fell to a six-week low today, triggering a drop in mining stocks as well

The UK stocks fell 0.6% to 5,847.76, for a third consecutive day, as investors remained cautious ahead of the two-day policy meeting of the Federal Open Market Committee (FOMC).

Falling metal prices pulled down mining stocks. Gold fell to a six-week low on the back of a stronger dollar this morning. Silver and platinum prices also fell. Meanwhile, investors showed caution ahead of a ‘flash’ survey of China’s manufacturing sector on Wednesday. Miners Kazakhmys, Anglo American, ENRC, Rio Tinto, Glencore and Xstrata were big losers of the day, followed by luxury brand Burberry, a stock sensitive to the Chinese economy.

On the other hand, the UK stock market saw an upswing in ARM Holdings, which beat forecasts in the third quarter and gave a confident outlook for the rest of the year. Experian, the information services company also climbed after increasing its holding in Serasa, Brazil’s leading personal credit checker.

Whitbread’s first-half revenues crossed the one-billion-pound mark, but it did not help the company’s stocks. “Whitbread’s H1 was marginally behind our estimates and there is no impetus from the trading outlook statement to warrant a FY13E forecast increase”, Investec analyst James Hollins, said.

CRH, the building materials group, was a heavy faller after HSBC downgraded its rating on the stock to ‘neutral’. Credit Suisse reiterated Lloyds neutral rating ahead of its third-quarter results on November 1, which sent its stocks down.

The UK stock market’s top ten gainers today include ARM Holdings 629.00p +5.80%, Experian 1,088.00p +3.92%, Wolseley 2,676.00p +0.56%, Centrica 327.80p +0.55%, National Grid 707.00p +0.21%, Severn Trent 1,666.00p +0.18%, British Sky Broadcasting Group 725.00p +0.14%, Tesco 315.45p +0.13%, United Utilities Group 723.50p +0.07%, and Pennon Group 728.50p -0.07%.

The UK stock market’s top ten losers today include Kazakhmys 723.00p -4.43%, Burberry Group 1,123.00p -4.18%, Eurasian Natural Resources Corp. 335.90p -2.86%, Rio Tinto 3,107.50p -2.71%, Anglo American 1,858.00p -2.65%, Weir Group 1,733.00p -2.53%, Glencore International 341.40p -2.53%, Antofagasta 1,276.00p -2.52%, Johnson Matthey 2,223.00p -2.50%, and Xstrata 969.40p -2.35%.

Stock market live Oct 22: Top gainers-BP, Randgold Resources, Evraz
Stock market live Oct 18: Top gainers-Evraz, Kazakhmys, Vedanta Resources


Leave a Comment

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>


Previous post:

Next post: