FTSE 100 movers: M&S falls after trading statement

7th Jul 2010 15:27

Marks & Spencer heads the fallers following its trading statement. M&S reported a 3.6% rise in UK like-for-like sales in the first quarter, but is cautious about the outlook for consumer confidence and spending. Like-for-like sales in general merchandise, which includes clothing, were up 6% in the 13 weeks ended 3 July, with like-for-like sales growth in food of 1.5%. Miners are heading lower. That includes Anglo-Swiss mining titan Xstrata which has given the green light to a huge investment to expand the Tintaya copper mine in southern Peru. The Xstrata board has approved a $1.47bn investment.Supermarket chain J Sainsbury is up at a two-month high on growing speculation that former suitor, the Qatar Investment Authority, is stake building. Talk is the Qataris are ready to up their interest in Britain's third-largest food retailer to 29.9% ahead of a cash offer pitched at 500p a share.Shares in BP continue to rise on talk of Middle East investment and possible capping of the leaking Gulf of Mexico well. Chief executive Tony Hayward is said to be Abu Dhabi today meeting with representatives of one of the world's largest sovereign wealth funds. FTSE 100 - RisersSainsbury (J) (SBRY) 344.20p +4.88%BP (BP.) 362.30p +4.86%BT Group (BT.A) 134.50p +3.30%Barclays (BARC) 283.00p +3.06%International Power (IPR) 309.10p +2.79%3i Group (III) 270.30p +2.74%Royal Bank of Scotland Group (RBS) 41.90p +2.42%Land Securities Group (LAND) 576.50p +2.40%Legal & General Group (LGEN) 80.65p +2.35%Centrica (CNA) 305.90p +2.24%FTSE 100 - FallersMarks & Spencer Group (MKS) 344.20p -2.41%Eurasian Natural Resources (ENRC) 842.00p -2.38%Kazakhmys (KAZ) 1,015.00p -2.12%Whitbread (WTB) 1,361.00p -1.95%Lonmin (LMI) 1,399.00p -1.89%Burberry Group (BRBY) 754.50p -1.89%Invensys (ISYS) 250.70p -1.88%Schroders (SDR) 1,182.00p -1.83%Vedanta Resources (VED) 2,182.00p -1.80%Rio Tinto (RIO) 3,000.00p -1.62%