FTSE 100 movers: ARM propelled by iPad optimism

10th Jun 2010 15:15

Chip maker ARM is leading the Footsie higher today. Shares in ARM have jumped on the back of long-term prospects for the tablet market following bumper sales of the iPad. Analysts' believe that this could mark the beginning of a booming market for tablet products, which require the type of chips that ARM designs. ARM's name was visible on the fourth-generation iPhone that was launched on Tuesday but it has been thought for some time that ARM is a supplier to Apple. ARM has also been boosted by rumours that Apple could bid for it. ARM says it has not received an approach and analysts' believe an Apple bid is unlikely. BP is back at the top of the fallers for yet another day. BP issued a statement this morning claiming it knows of no reason for the dramatic sell-off in its shares in the US last night. BP shares slumped 16% in heavy US trade as rumours did the rounds that the Gulf of Mexico oil disaster could force the business into bankruptcy, or at the very least cause it to axe the dividend. The cost of the spill has now reached $1.43bn (£982m). That is little more than half the cost of the first quarterly dividend for 2010, which is being paid on 21 June. Home Retail Group complained of shoppers' reluctance to part with their cash when it reported a decline in like-for-like sales at both its Argos and Homebase stores in the 13 weeks to 29 May. Argos like-for-like sales were down by 8.1% on a year ago, while DIY chain Homebase, suffered a less painful 1.4%, decline.FTSE 100 - RisersARM Holdings (ARM) 295.80p +7.96%Autonomy Corporation (AU.) 1,939.00p +6.13%Eurasian Natural Resources (ENRC) 1,035.00p +5.40%Burberry Group (BRBY) 786.00p +5.22%Xstrata (XTA) 1,005.50p +4.55%Rio Tinto (RIO) 3,287.50p +4.46%Kazakhmys (KAZ) 1,155.00p +4.43%BHP Billiton (BLT) 1,889.50p +3.96%Fresnillo (FRES) 1,021.00p +3.92%Lloyds Banking Group (LLOY) 55.55p +3.89%FTSE 100 - FallersBP (BP.) 368.45p -5.90%Home Retail Group (HOME) 227.50p -4.41%Morrison (Wm) Supermarkets (MRW) 264.20p -0.94%Royal Dutch Shell 'B' (RDSB) 1,687.50p -0.91%Imperial Tobacco Group (IMT) 1,901.00p -0.47%Sainsbury (J) (SBRY) 323.20p -0.43%Tesco (TSCO) 401.85p -0.15%Royal Dutch Shell 'A' (RDSA) 1,770.00p -0.03%Randgold Resources (RRS) 6,045.00p -0.00%Alliance Trust (ATST) 314.10p +0.10%