FTSE 100 movers: Anglo American shares fall on restructuring plans

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LONDON (ShareCast) - Shares in Anglo American (LSE: AAL.L - news) took a hit after the company controversially proposed to restructure the platinum mines owned by Anglo American Platinum (Amplats), in which it has a 78 per cent stake, sparking outrage from its unions. In addition, the move has prompted South African Mines Minister, Susan Shabangu, to initiate an investigation into whether the company has operated in line with mineral rights regulations.

Chip designer ARM Holdings (LSE: ARM.L - news) is widely regarded as the 'best in class' in the UK tech sector, but analysts at both Morgan Stanley (Xetra: 885836 - news) and Investec (LSE: INVP.L - news) took the shares down a peg this morning, deciding to lower their ratings after a recent strong run. The stock, down over 4% today, has still gained around 50% in the last three months, up 70% during the past half-year.

Royal Bank of Scotland (LSE: RBS.L - news) also fell on reports that it could face a fine of $800m as soon as next week to settle allegations that traders tried to rig interest rates. This was according to Bloomberg, which cited two unnamed sources who it claimed had knowledge of the matter.

Meanwhile, luxury brand Burberry made impressive gains after saying that total revenue rose 9% to £613m in the third quarter. Retail revenue, which makes up the bulk of sales, rose 13% to £464m on an underlying basis, driven by customers choosing the more expensive items and by a strong performance in outerwear. However, wholesale revenue fell by 5% to £120m on an underlying basis in the third quarter. Bank of America Merrill Lynch upgraded its view on the firm to 'buy' this morning and raised its target price from 1,260p to 1,470p.


FTSE 100 (FTSE: ^FTSE - news) - Risers
Burberry Group (Other OTC: BBRYF - news) (BRBY) 1,386.00p +4.60%
Pearson (LSE: PSON.L - news) (PSON) 1,221.00p +3.30%
BG Group (LSE: BG.L - news) (BG.) 1,073.50p +2.43%
Associated British Foods (LSE: ABF.L - news) (ABF) 1,532.00p +2.13%
Severn Trent (Other OTC: STRNY - news) (SVT) 1,583.00p +2.13%
Reckitt Benckiser Group (RB.) 4,028.00p +1.97%
United Utilities Group (UU.) 697.50p +1.82%
WPP (WPP (LSE: WPP.L - news) ) 962.00p +1.80%
Eurasian Natural Resources Corp (LSE: ENRC.L - news) . (ENRC) 339.60p +1.68%
Aggreko (AGK) 1,775.00p +1.49%

FTSE 100 - Fallers
Anglo American (AAL) 1,961.00p -3.71%
ARM Holdings (ARM) 841.00p -3.67%
Royal Bank of Scotland Group (RBS) 354.10p -2.85%
Polymetal International (POLY) 1,104.00p -2.82%
International Consolidated Airlines Group SA (CDI) (IAG) 206.20p -2.00%
CRH (CRH (NYSE: CRH - news) ) 1,215.00p -1.70%
Smiths Group (LSE: SMIN.L - news) (SMIN) 1,199.00p -1.56%
BAE Systems (LSE: BA.L - news) (BA.) 343.20p -1.55%
Vedanta Resources (Other OTC: VDNRF - news) (VED) 1,184.00p -1.42%
BT Group (LSE: BT-A.L - news) (BT.A) 240.30p -1.23%

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