FTSE 100 moderately higher but ARM tumbles

Towards lunchtime on Monday, the FTSE 100 was up 21 points to 5182. There was no obvious theme to the morning's trade but gains from index heavyweights Vodafone and 1% gains for BP and Shell offset modest declines elsewhere. Vodafone added 5p to 115p, clawing back some of the 16% plunge it experienced last week - its worst performance for two years. ARM was the only notable mover after the stock lost 9% to 247p. Investors bailed out after the group posted first-quarter royalty revenue of £6.4m, someway short of the £7.8m expected by analysts. Over in the US on Friday ma...