FTSE 100 movers: BP pushes index lower

14th Jul 2010 15:42

Shares in BP have dipped for the first time this week and this is pushing Footsie lower. BP has delayed a pressure test on the newly installed well cap in the Gulf of Mexico and there are reports that US politicians want to look into the company's activities in Libya. Derivatives trader ICAP reported a 5% increase in profits in the first quarter of its financial year. However, a bumper April and May was followed by a sharp downturn in activity in June. Defence firm BAE Systems is lower after it completed the $352m purchase of US-based ship repairer Atlantic Marine. Chip designer ARM has been lifted by Intel's record results announced last night. Goldman Sachs has responded to Intel's results by upping its price target for ARM to 350p from 260p. Fellow chip makers CSR and Imagination Technologies are also higher.Nomura has increased its target price for British Sky Broadcasting from 700p to £10 a share. FTSE 100 - RisersARM Holdings (ARM) 319.00p +3.27%British Sky Broadcasting Group (BSY) 701.00p +0.86%Compass Group (CPG) 557.00p +0.81%Serco Group (SRP) 578.00p +0.78%Sage Group (SGE) 242.60p +0.66%Johnson Matthey (JMAT) 1,626.00p +0.62%Associated British Foods (ABF) 1,041.00p +0.58%Smith & Nephew (SN.) 613.00p +0.57%Bunzl (BNZL) 711.00p +0.42%Royal Dutch Shell 'A' (RDSA) 1,816.00p +0.41%FTSE 100 - FallersICAP (IAP) 415.50p -4.75%Cairn Energy (CNE) 452.30p -3.83%Burberry Group (BRBY) 789.00p -3.60%Admiral Group (ADM) 1,425.00p -3.52%BP (BP.) 396.25p -3.44%BAE Systems (BA.) 318.60p -3.01%Antofagasta (ANTO) 905.50p -2.90%Cable & Wireless Worldwide (CW.) 87.50p -2.78%Vedanta Resources (VED) 2,265.00p -2.24%Wolseley (WOS) 1,420.00p -2.20%