LONDON (ShareCast) - ARM Holdings and Experian were doing their best lift the FTSE 100 on Tuesday, but it was the miners were pulling the blue-chip index into the red with growth concerns fuelling a move away from 'risk'.

Kazakhmys, ENRC, Antofagasta, Anglo American and Rio Tinto were all trading firmly lower this afternoon as markets were hit by worries about the Eurozone after Moody's downgraded five Spanish regions to 'junk' on the back of a "deterioration in their liquidity positions".

Disappointing US corporate earnings and caution ahead of tomorrow's Chinese manufacturing survey were also weighing on cyclical stocks. Luxury brand Burberry, a company sensitive to swings in the Chinese economy, was also out of favour.

The mood in the luxury sector was dampened by AIM-listed handbag and accessories group Mulberry which plunged after saying that full-year results would be below expectations. The company said that wholesale revenues fell in the first half due to tough comparatives and a "more challenging external environment in Asia".

Meanwhile, chip designer ARM Holdings surged after beating sales and profit forecasts in the third quarter and giving a confident outlook for the rest of the year. Analysts at Investec labelled the stock as a "stand-out tech play" this morning, keeping their 'buy' rating on the shares.

Information services firm Experian jumped after increasing its stake in Serasa, Brazil's leading personal credit checker, from 70% to 99.6%.

Building materials group CRH was a heavy faller after HSBC downgraded its rating on the stock to 'neutral'. Consumer products firm Unilever was also lower after Oriel Securities cut its recommendation to 'hold', while sector peer Reckitt Benckiser fell ahead of its third-quarter trading update tomorrow.

Banking group Lloyds was under the weather after Credit Suisse reiterated its 'neutral' rating for the lender ahead of its third-quarter results on November 1st. The broker said that "given recent strength the stock should give back some of the gains".


FTSE 100 - Risers
ARM Holdings (ARM) 627.50p +5.55%
Experian (EXPN) 1,082.00p +3.34%
Pennon Group (PNN) 733.00p +0.55%
Centrica (CNA) 327.10p +0.34%
National Grid (NG.) 706.00p +0.07%
British Sky Broadcasting Group (BSY) 724.50p +0.07%
Severn Trent (SVT) 1,663.00p 0.00%
United Utilities Group (UU.) 722.50p -0.07%
Tesco (TSCO) 314.15p -0.29%
Next (NXT) 3,588.00p -0.36%

FTSE 100 - Fallers
Kazakhmys (KAZ) 724.00p -4.30%
Eurasian Natural Resources Corp. (ENRC) 333.70p -3.50%
Burberry Group (BRBY) 1,132.00p -3.41%
Admiral Group (ADM) 1,108.00p -3.40%
Antofagasta (ANTO) 1,272.00p -2.83%
Johnson Matthey (JMAT) 2,221.00p -2.59%
IMI (IMI) 908.00p -2.58%
Anglo American (AAL) 1,859.50p -2.57%
Rio Tinto (RIO) 3,112.00p -2.57%
Tullow Oil (TLW) 1,421.00p -2.54%

BC

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