FTSE 100 movers: Chinese interest rate rise hits miners

19th Oct 2010 14:00

Miners are leading the market down today following a surprise rise in Chinese interest rates. Xstrata says that trading has been strong since the end of the first half. Coal, copper and nickel volumes were all good. Even so, the miner tops the worst performers. Rio Tinto continues to fall after it gave up trying to merge its iron interests with BHP Billiton. Disappointing iPad sales have knocked the share price of chip designer ARM. Autonomy is one of the better performers following its first quarter results. Autonomy boss Mike Lynch said growth prospects for the data search software provider are good. Third quarter profits in the three months to September 2010 rose to $57.6m from $48.6m as sales climbed 10% to a record $211m. Underlying operating profits rose by 34% to $86.3m.Underlying interim profits from Premier Inn and Costa Coffee owner Whitbread were in line with expectations while the dividend was increased from 9.65p a share to 11.25p a share. FTSE 100 - RisersPrudential (PRU) 640.50p +2.73%Autonomy Corporation (AU.) 1,456.00p +2.61%Diageo (DGE) 1,162.00p +2.38%Serco Group (SRP) 643.50p +2.14%Whitbread (WTB) 1,725.00p +1.89%Standard Chartered (STAN) 1,951.00p +1.56%Experian (EXPN) 719.50p +1.48%United Utilities Group (UU.) 592.50p +1.37%Royal Bank of Scotland Group (RBS) 46.94p +1.36%Severn Trent (SVT) 1,351.00p +1.35%FTSE 100 - FallersXstrata (XTA) 1,253.50p -3.98%Man Group (EMG) 262.10p -2.89%Vedanta Resources (VED) 2,199.00p -2.40%Fresnillo (FRES) 1,260.00p -2.40%ARM Holdings (ARM) 389.70p -2.36%Rio Tinto (RIO) 3,988.00p -2.25%Kazakhmys (KAZ) 1,334.00p -1.84%African Barrick Gold (ABG) 560.50p -1.67%Antofagasta (ANTO) 1,269.00p -1.48%Inmarsat (ISAT) 607.50p -1.46%