Investors have welcomed Anglo American's appointment of Australian Mark Cutifani as its new Chief Executive. The mining giant pinched Cutifani from AngloGold Ashanti to replace Cynthia Carroll. Cutifani will take the reins in April with a pay packet worth around 2.38m pounds, including salary and bonuses.
Verizon Communications Chief Executive Lowell McAdam has said the company is well positioned to buy out Vodafone Group in their wireless joint venture, pushing shares in Vodafone higher. In an interview with The Wall Street Journal Monday, McAdam said the company's plans to become the sole owner of Verizon Wireless were 'feasible'.
ARM Holdings was also up in the top 10 after Swiss broker Credit Suisse updated its forecasts for the chip maker so as to reflect the changes made to its forecasts for the handset industry in 2013. More specifically, analyst Kulbinder Garcha has raised his smartphone market volume estimates by 6%/15% and tablet estimates by 5%/13% for 2012/13.
Sainsbury was heading higher as confidence grew ahead of tomorrow's trading announcement.
Meanwhile, Tullow Oil shares fell after Societe Generale cut its target price on the stock from 1,450p to 1,390p, while the hold rating remained unchanged. Investec also reduced its target price from 1,399p to 1,000p and downgraded the stock from hold to sell.
TUI Travel fell after Morgan Stanley downgraded the group from equal weight to underweight.
Croda International was also a big faller after Canaccord Genuity reiterated its 'sell' rating on the stock.
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