TOP RISES AND FALLERS
BANKS, miners and energy firms did well yesterday as fears about European sovereign debt receded once more and as many brokerages and banks upgraded their recommendations. ARM holdings won the day, however, on the back of takeover rumours.
Smith & Nephew, Marks & Spencers and Capital Shopping Centres all fell back.
ARM holdings – 6.99 per cent
Rumours about a takeover of chipmaker ARM holding drove a 7 per cent leap
Wolesley – 5.93 per cent
Citigroup and Deutsche Bank upped their price targets on builder Wolseley
Cairn Energy – 5.54 per cent
The energy group Cairn was Morgan Stanley’s top pick for UK exploration
Barclays – 5.53 per cent
Banks were up after brokerages advised purchases of the financial sector
Eurasian Natural Resources – 4.05 per cent
Miners were up, recovering from yesterday’s falls
Smith & Nephew – 5.9 per cent
The medical devices firm fell back from Monday’s takeover rumour based spike
Marks & Spencer – 2.81 per cent
Despite favourable responses from analysts, markets reacted badly to results
Capital Shopping Centres Group – 2.75 per cent
Simon Property dropped its bid for Capital Shopping Centres
National Grid – 2.39 per cent
National Grid lost out yesterday as gas flow into the country slowed
Vodafone – 1.75 per cent
Vodafone suffered a minor correction yesterday