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ARMH Arm Holdings Plc ADS Each Representing 3 Ordinary Shares (MM)

67.77
0.00 (0.00%)
03 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Arm Holdings Plc ADS Each Representing 3 Ordinary Shares (MM) NASDAQ:ARMH NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 67.77 67.63 67.75 0 01:00:00

LONDON MARKETS: U.K. Stocks Join Global Downturn; Burberry Downgraded

07/04/2014 4:20pm

Dow Jones News


Arm Holdings Plc ADS Each Representing 3 Ordinary Shares (MM) (NASDAQ:ARMH)
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By Carla Mozee, MarketWatch

LONDON (MarketWatch) -- U.K. stocks fell Monday, with a ratings cut for Burberry Group PLC putting the luxury retailer's shares on their heels as the broader market headed for its biggest decline in three weeks.

The FTSE 100 fell 1% to 6,632.30, with only three components moving higher, topped by a 2% rise for British gas parent Centrica PLC while rival energy company SSE PLC gained 0.3%. Shares of Wm. Morrison Supermarkets PLC edged up 0.3%.

But Burberry shares fell 2% after they were downgraded to hold from buy at Berenberg. Currency headwinds persist for euro-, pound- and Swiss franc-denominated luxury, sporting goods and eyewear makers, Berenberg analysts John Guy and Bassel Choughari said in a note Monday. Assuming no change to current levels, "the second half of 2014 ought to provide some respite. However hedged, the translational impact is likely to weigh on earnings over the short term," they said.

U.K. stocks stayed lower Monday after U.S. equity trading opened with losses. European markets had tracked Wall Street's selloff on Friday that was underpinned by declines among so-called momentum stocks, such as biotechs and Internet companies.

Echoing that trend, shares in microchip designer ARM Holdings PLC fell 2.3% in London on Monday.

One of the surprises for Friday's market action in the U.S. was that stocks fell "despite the pared-back expectations for U.S. rates, which would usually be bullish for the market," said Marshall Gittler, head of global FX strategy at IronFX, to clients on Monday.

U.K. interest rates, meanwhile, are expected to be held steady when the Bank of England releases its monetary policy decision on Thursday.

Also dragging on the FTSE 100 were shares of Barratt Developments PLC and Hargreaves Lansdown PLC as the home builder and the investment manager each gave up 4.2%.

While investors shunned both risk and safe-haven stocks on Monday, risk appetite among chief financial officers of major U.K. companies was at its highest level in six years in the first quarter, with a Deloitte survey released Monday showing 71% of CFOs polled said now is a good time to take on more risk.

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Subscribe to WSJ: http://online.wsj.com?mod=djnwires


1 Year Arm Holdings Plc ADS Each Representing 3 Ordinary Shares (MM) Chart

1 Year Arm Holdings Plc ADS Each Representing 3 Ordinary Shares (MM) Chart

1 Month Arm Holdings Plc ADS Each Representing 3 Ordinary Shares (MM) Chart

1 Month Arm Holdings Plc ADS Each Representing 3 Ordinary Shares (MM) Chart

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