FTSE 100 movers: Ex-divi stocks weigh on index

Ex-dividend stocks were providing a drag today, including heavyweights Croda International, Glencore, Legal and General and Xstrata. Glencore and Xstrata were also being pressured lower by reports that Xstrata shareholder Norges Bank Investment Management has raised its stake in the miner in the last few weeks. The Norwegian fund is expected to join forces with Qatari Holdings to vote to block the merger between the two groups. Copper producer Antofagasta was also lower despite beating EPS estimates in the first half as a decrease in copper prices was offset by higher levels of production. Shares in Marks and Spencer were in red once again as takeover speculation continues to fade. The stock jumped on Friday after Bloomberg reported that private equity firm CVC was considering making an offer. However, analysts at Investec have said this morning that a successful bid is unlikely and the "bid spec bubble" is expected to burst. Outsourcing group Serco was higher after saying that it expects good growth in full-year organic revenues in 2012 despite a 2.1% fall in the first half. FTSE 100 - RisersAdmiral Group (ADM) 1,199.00p +1.87%Reed Elsevier (REL) 588.00p +1.73%SSE (SSE) 1,377.00p +1.47%Polymetal International (POLY) 982.50p +1.24%Whitbread (WTB) 2,128.00p +1.14%Severn Trent (SVT) 1,755.00p +1.04%Centrica (CNA) 331.00p +1.04%Babcock International Group (BAB) 909.50p +1.00%Imperial Tobacco Group (IMT) 2,460.00p +0.94%Rexam (REX) 429.10p +0.92%FTSE 100 - FallersGlencore International (GLEN) 371.60p -3.23%Rio Tinto (RIO) 2,786.50p -2.64%Evraz (EVR) 229.50p -1.88%Weir Group (WEIR) 1,651.00p -1.84%Anglo American (AAL) 1,833.00p -1.74%International Consolidated Airlines Group SA (CDI) (IAG) 142.50p -1.66%Kazakhmys (KAZ) 624.00p -1.58%Legal & General Group (LGEN) 128.60p -1.53%Marks & Spencer Group (MKS) 357.50p -1.46%Lloyds Banking Group (LLOY) 33.56p -1.44%NR