ARM accelerates as large-caps extend gains
With the shares having under-performed due to these uncertainties, Morgan Stanley thought it was a good time to buy into ARM and the shares added 19½ to 569p. ARM’s mid-cap peer, and another supplier of Apple, Imagination Technologies was also in demand, rising 50½ to 652p.
Their advance came as the market extended its gains into a second day. Better-than-expected employment data from America lifted traders’ spirits and the FTSE 100 gained 68.32 points to 5,859.73. The FTSE 250 climbed 171.22 points to 11,458.36.
Miners were once again the driving force behind the rise: Vedanta Resources added 49p to £13.93 and Antofagasta rose 38p to £12.68. But, real estate investor, Hammerson , led the charge. It climbed 21.3 to 411.3p and was joined by oil services company, Petrofac , up 84p to £16.75.