Trading was light today and early gains, prompted by good figures from ARM, had all but disappe...
Trading was light today and early gains, prompted by good figures from ARM, had all but disappeared by the close of trade thanks to a downbeat start to the day from Wall Street.
The FTSE 100 finished the day up 18.2 points to 5405.3.
ARM began the week with a flourish after it released a decent set of second-quarter results. Profits came in at £12.2m, ahead of market expectations at around £11m. The figures were accredited to higher sales from licensing, consulting and development services. The shares improved 33p to 234p.
Index heavyweight Vodafone also put in a good show, finishing second best FTSE 100 performer, behind ARM, with a rise of 7.25p to 148.5p.
There were few real trends to the day though with a mix of stocks from most sectors gracing the leaders' board by the finish.
On their way down among the FTSE 100 was an equally varied mix of stocks, although pharmaceuticals looked to have had a particularly rough day, with falls for AstraZeneca down 3%, Shire Pharmaceuticals off 3.1%, GlaxoSmithkline down 2.1% and chemicals group ICI down 2.4%.
At midday in the US, all the major indices were down but losses were capped at around 1%. The Dow Jones slipped 99 points to 10476, the Standard & Poor's 500 shed 12 to 1198 while the Nasdaq lost 21 to 2007. Earnings worries still seem to be at the forefront of investors' thoughts.
Partner Insight: For Blackfinch, the arrival of its IHT portfolio services was a 'natural evolution' in the group's offering and points to an established track record of returning cash to investors.
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