FTSE 100 movers: RSA slumps on earnings downgrade

13th Dec 2013 15:44

RSA Insurance fell sharply from the off after lowering its 2013 earnings forecast after identifying issues in its Irish business and experiencing adverse weather in Europe. At the same time the group announced the resignation of group Chief Executive Simon Lee with immediate effect. Temporary power generation giant Aggreko was also very much in the red after Numis Securities reiterated its 'sell' rating on the stock.British gas owner Centrica was lower after a downgrade by Societe Generale to 'hold'. Meanwhile, ARM was the best performer on the index in afternoon trade after Bloomberg reported that Google is considering designing its own server processors using the British company's technology. As of yet, no decision has been taken by Google, which is among the largest buyers of server processors, and plans could change, the news agency said, citing a person close to the matter.Sportswear and equipment retailer Sports Direct regained some of yesterday's losses today. It plunged yesterday despite delivering a near-17% jump in underlying profits during its first half, driven by an increase in online and international sales. However, the company did say that "[current] trading has now reverted to management's original expectations" following the outperformance in the first half. The group also revealed that long-running Finance Director, Bob Mellors, who was appointed in 2004, is to retire at the end of December on health grounds.Drug maker AstraZeneca was also higher after it reported that the US Food and Drug Administration's Endocrinologic and Metabolic Drugs Advisory Committee gave its approval of their diabetes treatment, dapagliflozin.FTSE 100 - RisersARM Holdings (ARM) 1,007.00p +3.60%Sports Direct International (SPD) 695.50p +3.19%Aberdeen Asset Management (ADN) 456.00p +1.92%Hargreaves Lansdown (HL.) 1,287.00p +1.66%BAE Systems (BA.) 427.90p +1.66%Randgold Resources Ltd. (RRS) 3,959.00p +1.62%ITV (ITV) 182.50p +1.56%British Sky Broadcasting Group (BSY) 800.00p +1.52%easyJet (EZJ) 1,475.00p +1.51%AstraZeneca (AZN) 3,509.50p +1.49%FTSE 100 - FallersRSA Insurance Group (RSA) 87.05p -12.69%Aggreko (AGK) 1,512.00p -2.45%Experian (EXPN) 1,077.00p -1.91%Coca-Cola HBC AG (CDI) (CCH) 1,608.00p -1.59%Weir Group (WEIR) 2,052.00p -1.11%Burberry Group (BRBY) 1,434.00p -1.04%Vodafone Group (VOD) 226.35p -1.01%Centrica (CNA) 321.90p -0.98%Barclays (BARC) 251.45p -0.98%BP (BP.) 466.20p -0.97%NR