FTSE 100 movers: Banks head lower

5th Nov 2010 13:21

There was a negative reaction to the bank figures today. Royal Bank of Scotland fell into the red in the third quarter. It recorded a loss before tax of £1,379 million, compared with a profit of £1,157m in the second quarter and a loss of £2,077m in the third quarter of 2009.HSBC warned that the pace of growth in emerging markets is slowing and recovery from recession may take longer than in previous downturns.Rolls-Royce continues to fall as Qantas points the finger at the aeroengine manufacturer following the failure of one of its engines on a A380 super jumbo. Qantas believes it was "a material failure or some kind of design issue". Strong sales of artificial joints wound care products have boosted the share price of Smith & Nephew. Revenues in the quarter to September 2010 rose by 4% to $941m, while pre-tax profit rose to $201m from $173m. Vedanta Resources has appointed Anthony Henshaw as chief sustainability officer. Outsourcer Serco is staging a recovery following its share drop this week. FTSE 100 - RisersSmith & Nephew (SN.) 594.00p +6.36%Vedanta Resources (VED) 2,309.00p +5.43%Eurasian Natural Resources Corp. (ENRC) 980.00p +3.21%ARM Holdings (ARM) 348.70p +2.89%Invensys (ISYS) 308.20p +2.63%Fresnillo (FRES) 1,402.00p +2.56%GlaxoSmithKline (GSK) 1,256.00p +2.32%Serco Group (SRP) 569.50p +1.70%Old Mutual (OML) 134.00p +1.59%Capita Group (CPI) 744.50p +1.57%FTSE 100 - FallersRoyal Bank of Scotland Group (RBS) 45.17p -4.18%Cobham (COB) 200.10p -3.80%Rolls-Royce Group (RR.) 601.00p -3.30%HSBC Holdings (HSBA) 684.10p -1.58%Man Group (EMG) 286.50p -1.48%British Airways (BAY) 282.10p -1.36%Rexam (REX) 320.90p -1.26%RSA Insurance Group (RSA) 132.20p -1.20%Marks & Spencer Group (MKS) 407.90p -1.19%Lonmin (LMI) 1,841.00p -1.13%