By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- Shares of ARM Holdings PLC led U.K.
stocks higher on Tuesday, after a well-received earnings report,
while Associated British Foods PLC gained after declaring an
increase in dividends.
The FTSE 100 index gained 0.4% to 6,306.02.
ARM Holdings (ARMHY) rallied 7%, after the chip maker posted a
better-than-expected 28% rise in first-quarter revenue, boosted by
strong demand for its microchip designs. Adjusted pretax profit
jumped 44%, beating expectations of a 25% rise.
Shares of AB Foods added 1.8%, after the food and clothing
company reported a 26% rise in first-half pretax profit and
declared a 10% increase in interim dividends.
Rolls-Royce Holdings PLC picked up 1.2%. The power-systems
developer said it has agreed to sell its shareholding and interest
in the RTM322 helicopter-engine program to Turbomeca, which is part
of engineering group Safran SA .
Shares of SABMiller PLC gained 0.9%, after the brewer said
Executive Chairman Graham Mackay has been diagnosed with a brain
tumor and therefore has accelerated the planned promotion of Alan
Clark to chief executive with immediate effect.
On a more downbeat note, mining firms posted losses, tracking
metals prices lower.
Shares of Fresnillo PLC dropped 2.9%, Randgold Resources Ltd.
fell 2.1% and Anglo American PLC shaved off 1.6%.
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