FTSE 100 movers: Chinese trade deficit knocks miners

10th Mar 2011 15:18

News of China's trade deficit in February has knocked miners today. Fresnillo and ENRC are down the most in the sector. Concerns that ARM will be hit by poor sales of non-Apple tablet computers has knocked the share price. That part of the market accounts for less than 3% of ARM's revenues but it has been partly responsible for the ARM share price being pushed upwards in recent months. Temporary generating equipment supplier Aggreko is lower despite reporting pre-tax profits up by nearly one-quarter at £307.1m. However, the current turmoil in the Arab world makes predicting this year's outcome difficult.Standard Life is also lower, even after it reported a "good" 2010, with net adjusted inflows up 46%. The insurer says it's made a strong start to 2011. Supermarket group Morrisons beat expectations in 2010 and is one of the better performers on the day. Underlying pre-tax profits totalled £874m for the year, ahead of estimates and up from £767m the previous year. Turnover climbed by 7% to £16.5bn. Morrisons says it will buy back £1bn of shares over the next two years and implement double-digit percentage growth in dividend payments over the next three years.Morgan Stanley has raised drug developer Shire from equalweight to overweight. FTSE 100 - Risers Shire Plc (SHP) 1,789.00p +1.25%GlaxoSmithKline (GSK) 1,194.50p +0.89%United Utilities Group (UU.) 586.50p +0.86%Morrison (Wm) Supermarkets (MRW) 282.90p +0.86%Sage Group (SGE) 272.30p +0.70%Smith & Nephew (SN.) 719.00p +0.56%Severn Trent (SVT) 1,493.00p +0.54%Capita Group (CPI) 785.00p +0.45%Carnival (CCL) 2,668.00p +0.30%Scottish & Southern Energy (SSE) 1,207.00p +0.17%FTSE 100 - Fallers ARM Holdings (ARM) 529.00p -7.84%Aggreko (AGK) 1,387.00p -6.85%Standard Life (SL.) 230.00p -6.01%Fresnillo (FRES) 1,509.00p -5.03%Weir Group (WEIR) 1,620.00p -4.26%Cairn Energy (CNE) 421.30p -4.25%Eurasian Natural Resources Corp. (ENRC) 899.00p -4.21%Vedanta Resources (VED) 2,190.00p -4.20%Tullow Oil (TLW) 1,356.00p -4.03%Rio Tinto (RIO) 3,928.00p -3.91%