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FTSE 100 movers: Retail fears knock index

Wed, 04th Aug 2010 15:34

Worries about retail sales are pushing the Footsie down.This is due to fashion retailer Next saying it has noticed a 'cooling' in consumers' demand in recent months. Next still expects profits to rise by between 6-11% this year, in line with its previous forecasts. "We believe that consumer spending will be more restrained in the second half than in the first, as spending cuts and tax rises begin to take effect", the retailer said.Home Retail, Kingfisher and Marks & Spencer fell in sympathy. Standard Chartered has lost all of yesterday's gain and more, despite sharply lower impairment provisions at the Asia-focused bank in the first half of 2010. Pre-tax profit improved 10% to $3,116m.Reckitt Benckiser is the only one of the Footsie shares going ex-dividend today that is in the worst performers. The household products supplier is paying a dividend of 50p a share but the shares have fallen by 59p. Pharma company Shire is falling back following the release of its second quarter figures even though it raised its full year earnings expectations. Shire expects earnings for the full year of $4 per ADS (American Depositary Share), a 15% increase on 2009, and up from previous expectations of about $3.80. There are three ordinary shares to each ADS, so 2010 earnings per share should be around 84p. BP may have sealed the leaking Maconda well in the Gulf of Mexico by pumping it full of mud - a process known as 'static kill'. The well now "appears to have reached a static condition", BP said this morning. Production volumes at Kazakhstan-based miner Eurasian Natural Resources Corporation are running above 2008 levels.FTSE 100 - RisersLloyds Banking Group (LLOY) 74.46p +3.53%African Barrick Gold (ABG) 561.00p +3.31%Eurasian Natural Resources (ENRC) 959.00p +2.08%Petrofac Ltd. (PFC) 1,326.00p +2.08%Fresnillo (FRES) 1,090.00p +1.87%BP (BP.) 423.00p +1.77%Amec (AMEC) 912.00p +1.73%Unilever (ULVR) 1,831.00p +1.61%Aggreko (AGK) 1,587.00p +1.60%Pearson (PSON) 1,018.00p +1.50%FTSE 100 - FallersNext (NXT) 2,026.00p -7.87%Standard Chartered (STAN) 1,808.00p -4.97%Home Retail Group (HOME) 235.70p -3.60%Shire Plc (SHP) 1,422.00p -3.46%Inmarsat (ISAT) 722.00p -3.09%Kingfisher (KGF) 217.00p -3.04%Marks & Spencer Group (MKS) 349.70p -3.02%British Land Co (BLND) 456.50p -2.77%Aviva (AV.) 367.50p -2.39%Reckitt Benckiser Group (RB.) 3,161.00p -1.83%

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