FTSE 100 movers: Vedanta hit by downgrade

9th Oct 2013 15:01

Vedanta Resources delivered record oil and gas production and a rise in the output of refined zinc, lead and silver in the second quarter. However, the stock was among the worst performers today after reportedly being downgraded by Morgan Stanley to 'underweight'.ARM Holdings also took a hit, tracking losses seen overnight in major customer Apple. Randgold Resources was among the miners hit by falling metal prices, while precious metals mining group Fresnillo also fell despite announcing that the temporary suspension of Minera Penmont's explosives permit at Noche Buena has been lifted and operations have restarted. A number of blue-chip stocks were also falling after going ex-dividend today, including Aviva, Smith & Nephew, Tesco, Travis Perkins, Wolseley and WPP. Meanwhile, housebuilding stocks were performing well after upbeat comments from Goldman Sachs over the outlook for the market, driven in part by the government's mortgage guarantee scheme, 'Help to Buy'. The bank said that the scheme, along with recent economic data, indicates a "rebound in activity". Persimmon, in particular, was a high riser on the FTSE 100, bouncing higher after hitting its 200-day moving average. Betting firm William Hill was also on the up; the stock yesterday had its 'buy' rating reiterated by Citigroup and received an 'overweight' rating from JP Morgan Chase. Financials were also doing their best to support the index with Standard Chartered, Lloyds, Aberdeen Asset Management and Barclays making gains.FTSE 100 - RisersPersimmon (PSN) 1,133.00p +5.20%William Hill (WMH) 404.20p +1.81%Aberdeen Asset Management (ADN) 373.60p +1.27%InterContinental Hotels Group (IHG) 1,785.00p +1.25%Pearson (PSON) 1,258.00p +1.21%Standard Chartered (STAN) 1,444.50p +1.12%Kingfisher (KGF) 364.50p +0.91%Tate & Lyle (TATE) 743.50p +0.88%SSE (SSE) 1,450.00p +0.83%National Grid (NG.) 741.50p +0.82%FTSE 100 - FallersVedanta Resources (VED) 1,016.00p -5.05%ARM Holdings (ARM) 952.50p -2.56%Randgold Resources Ltd. (RRS) 4,309.00p -2.51%Tesco (TSCO) 353.40p -1.97%Intertek Group (ITRK) 3,141.00p -1.91%ITV (ITV) 180.10p -1.91%easyJet (EZJ) 1,207.00p -1.87%Reed Elsevier (REL) 823.50p -1.85%Croda International (CRDA) 2,572.00p -1.79%Sage Group (SGE) 315.10p -1.72%NR