FTSE 100 Movers: GKN falls on downgrade

GKN continued to fall on news that Credit Suisse had downgraded the stock from outperform to neutral.Standard Chartered fell after saying its income for 2011 is now expected to grow at "just below a double digit rate" after a depreciation in Asian exchange rates against the dollar. Previously the bank forecast double digit revenue growth, but today it said it had been hit by Asian exchange rates falling by up to 5% since its third quarter statement.Banks were among the worst performers, with both Lloyds and RBS dropping over 4%, as markets took a tumble following a press conference with European Central Bank (ECB) president Mario Draghi after interest rates were cut from 1.25% to 1%. Investors reacted negatively to remarks from Draghi who downplayed speculation that the ECB would increase bond purchases of struggling euro nations.Meanwhile, BT was on the up after signing an agreement with Orange to allow their telepresence users to communicate with one another, in a bid to "help telepresence users reach more partners, suppliers, customers and business prospects at public and private end points across their networks".Tesco rose despite reporting a drop in like-for-like sales in its UK stores by 0.9% in the third quarter compared to the equivalent period of 2010. The figure excludes income from VAT and Petrol, but is in line with the performance during the second quarter.Defensive stocks were also heading north, including mobile phone provider Vodafone and cigarette producers Imperial Tobacco and British American Tobacco. FTSE 100 - RisersBritish American Tobacco (BATS) 3,019.50p +1.68%BT Group (BT.A) 192.80p +1.42%GlaxoSmithKline (GSK) 1,447.00p +1.33%Imperial Tobacco Group (IMT) 2,381.00p +1.23%Vodafone Group (VOD) 173.55p +0.90%Shire Plc (SHP) 2,159.00p +0.84%Severn Trent (SVT) 1,482.00p +0.82%Reckitt Benckiser Group (RB.) 3,232.00p +0.72%ITV (ITV) 64.50p +0.70%Reed Elsevier (REL) 514.50p +0.68%FTSE 100 - FallersEssar Energy (ESSR) 229.80p -4.92%Lloyds Banking Group (LLOY) 25.84p -4.58%Royal Bank of Scotland Group (RBS) 21.17p -4.38%Xstrata (XTA) 996.20p -3.84%IMI (IMI) 742.00p -3.82%Legal & General Group (LGEN) 105.20p -3.75%British Land Co (BLND) 471.40p -3.52%Land Securities Group (LAND) 646.50p -3.36%GKN (GKN) 183.60p -3.32%Hammerson (HMSO) 372.00p -3.20%NR