FTSE records gain for January

Wed, 1st Feb 2012

The top share index in the UK registered a rise on the last day of trading for January, with the FTSE higher than when the year started. By the end of the session, the FTSE 100 was higher by 0.2 per cent, adding just over 10 points to close at 5681.

The EU summit gave the market a lift as ministers announced that the bailout fund revamp had been formally approved as well as confirming that tighter budget control as proposed by Germany had also been given the thumbs up. Whilst this sent the index to an intra-day peak of 5730, shares came down to earth with a bump when figures from the US consumer confidence index came in way below expectations.ARM Holdings was on the up with an increase of 2.01 per cent putting them in the top 10 performing shares of the day. The microchip supplier which equips gadgets such as iPads and iPhones, saw its sales figures for the fourth quarter beat expectations.National Grid was also amongst the leaders with an increase of 3.02 per cent after it announced that it would provide a minimum dividend growth of 4% for 2012. Sector peer Scottish Southern Electric was also higher, rising by 1.16 per cent after it told investors that it expects to deliver substantial profits and higher dividends.Tesco was at the wrong end of the leaderboard, shedding 0.12 per cent after researchers announced that the supermarket giant has slipped below 30% of the market share for the first time in close to seven years.
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