FTSE 100 movers: ARM rises on strong quarterly rise

23rd Apr 2013 15:21

Shares in chip designer ARM Holdings leapt after it reported strong quarterly revenue and earnings growth, fuelled by licensing and record royalty revenue and said it expects full year results to be at least in line with current market expectations. Also on the up was Associated British Foods, which reported a 10% rise in half-year revenue driven by sales at its clothing retail subsidiary Primark. Group revenue came to £6.3bn for the six months to March 2nd, and adjusted operating profit was 20% ahead of the previous year at £496m. International Consolidated Airlines Group (IAG) was higher after saying that it has increased its stake in Vueling, the Spanish low cost carrier based in Barcelona, to 90.51% after its shareholders accepted the recommendation of the Vueling board. SABMiller was making gains after accelerating the promotion of its Chief Operating Officer Alan Clark to Chief Executive Officer after its Executive Chairman fell ill. Power solutions giant Rolls-Royce was also in demand after reaching an agreement to sell its 50% stake in the RTM322 helicopter engine programme to Turbomeca for €293m. Heading the other way, Tullow Oil said that it has had to abandon a well offshore French Guiana, the latest in a string of disappointing operational updates from the FTSE 100-listed oil explorer. FTSE 100 - RisersARM Holdings (ARM) 961.50p +10.64%Associated British Foods (ABF) 1,980.00p +7.03%Prudential (PRU) 1,100.00p +6.59%CRH (CRH) 1,383.00p +5.17%International Consolidated Airlines Group SA (CDI) (IAG) 268.00p +4.52%Aberdeen Asset Management (ADN) 415.60p +4.37%Melrose Industries (MRO) 246.80p +4.31%TUI Travel (TT.) 317.30p +4.10%Standard Life (SL.) 352.50p +4.01%SABMiller (SAB) 3,495.00p +4.00%FTSE 100 - FallersFresnillo (FRES) 1,090.00p -2.33%Randgold Resources Ltd. (RRS) 4,829.00p -0.84%Antofagasta (ANTO) 885.50p -0.78%Vodafone Group (VOD) 194.35p -0.23%Tullow Oil (TLW) 1,044.00p -0.19%NR