FTSE 100 movers: United Utilities rises on divi payment

23rd May 2013 15:26

United Utilities was one of a small handful of risers having upped its dividend on the back of what it described as a 'good' set of results, supported by a strong operational performance, which fed through to the quality of service received by its customers. Tate & Lyle climbed after Deutsche Bank increased its target price from 900p to 1,050p and reiterated a buy recommendation. ARM Holdings led the downside, hit by a downgrade to neutral from Exane, with a target price of 1,000p. This followed a number of downgrades by other brokers earlier in the week. Standard Chartered was another big faller, which may be linked with the data out from china, as the company is Asia-focused. The HSBC flash China manufacturing purchasing managers' index for the month of May unexpectedly fell to a seven-month low at 49.6 from the previous month's reading of 50.4. Analysts had forecast the index to rise to 50.5.As risk appetite fell, the banking and mining sectors suffered a sharp decline early on. RBS and Lloyds, which continue to be at the centre of reprivatisation speculation, were heavy fallers along with EVRAZ, Anglo American, Antofagasta and Glencore Xstrata. Glencore Xstrata today launched and priced three- five- and 10-year fixed-rate notes and three- and five-year floating-rate notes in a five billion dollar five-tranche transaction.Retail group Kingfisher was also under the weather after Nomura cut its recommendation to 'reduce', saying that the shares have gained too much recently "given weakness ahead". Drinks firm SABMiller was in the red despite increasing its full-year revenue from $31.4bn to $34.5bn in the year to end March. FTSE 100 - RisersUnited Utilities Group (UU.) 787.50p +0.77%Randgold Resources Ltd. (RRS) 5,060.00p +0.50%Fresnillo (FRES) 1,080.00p +0.37%Tate & Lyle (TATE) 858.50p +0.17%Associated British Foods (ABF) 1,942.00p +0.05%FTSE 100 - FallersARM Holdings (ARM) 985.00p -6.19%Standard Chartered (STAN) 1,535.00p -5.01%Aggreko (AGK) 1,769.00p -4.99%Anglo American (AAL) 1,573.00p -4.87%GKN (GKN) 297.70p -4.55%Antofagasta (ANTO) 957.00p -4.49%Glencore Xstrata (GLEN) 335.55p -4.40%Rio Tinto (RIO) 2,909.50p -4.37%Weir Group (WEIR) 2,300.00p -4.33%Barclays (BARC) 319.40p -4.33%NR