FTSE 100 movers: ABF warns on consumer demand

28th Feb 2011 13:53

Associated British Foods is leading the market lower. The British Sugar and Primark owner says that its interim figures will be in line with expectations but it warns of weakening UK consumer demand and rising cotton prices hitting margins. HSBC doubled its profits to over $19bn last year but it is also lower. Bad debts tumbled and every trading division improved its performance. The figures came in shy of market expectations of around $20.4bn, though.Tesco has fallen back after it signed an agreement to set up a joint venture to develop shopping malls in China. Half of the joint venture will be owned by a consortium of leading Asian investors including Singapore's Metro Holdings.Chip designer ARM is higher after signing a licence agreement with Fujitsu. Property companies continue to be strong with British Land, Land Securities and Hammerson all higher today. FTSE 100 - Risers Essar Energy (ESSR) 518.50p +3.78%ARM Holdings (ARM) 627.00p +3.12%Hammerson (HMSO) 465.60p +3.05%Xstrata (XTA) 1,423.00p +2.89%Schroders (SDR) 1,806.00p +2.85%British Land Co (BLND) 584.00p +2.64%Land Securities Group (LAND) 768.50p +2.60%Eurasian Natural Resources Corp. (ENRC) 981.50p +2.56%Johnson Matthey (JMAT) 1,873.00p +2.52%Schroders (Non-Voting) (SDRC) 1,429.00p +2.51%FTSE 100 - Fallers Associated British Foods (ABF) 962.00p -6.33%HSBC Holdings (HSBA) 673.10p -5.34%Next (NXT) 1,984.00p -1.98%Whitbread (WTB) 1,771.00p -1.61%Morrison (Wm) Supermarkets (MRW) 279.20p -1.27%African Barrick Gold (ABG) 585.50p -0.85%Tesco (TSCO) 402.70p -0.83%Smith & Nephew (SN.) 712.00p -0.77%Serco Group (SRP) 550.00p -0.63%Imperial Tobacco Group (IMT) 1,984.00p -0.60%