Arm Holdings leads FTSE after upgrade London markets lacked direction on the last trading day of the month, after the UK prime minister's defeat in parliament last night on taking action against the Assad government in Syria. The FTSE was 30 points lower after an hour of trade, down 0.5 per cent to 6,452.79. On London's main index, Arm Holdings was the leading gainer, up 1.7 per cent at 898p after a major upgrade from Deutsche Bank. Deutsche raised its rating on the UK chip designer to buy from sell and more than doubled its target price to £10.80 from 470p, reasoning "ARMageddon fears" - relating to the threat from its rival Intel - were overdone. Among the fallers, the miner Fresnillo was the biggest - down 2.6 per cent at £12.86 - while Serco, which fell 11 per cent on Thursday on fears it could lose essential UK government contracts, was down another 1.5 per cent at 530p. Among the mid-caps, Bwin.party fell 9 per cent to 116p after the online gambling company warned full-year revenues would fall up to 17 per cent as it cut back to focus on fewer markets.