Sector movers: Aero and defence stocks fall back

9th Jun 2009 14:07

The aerospace and defence sector has lost a bit of altitude after a note from Goldman Sachs shook up the sector yesterday. Defence group Cobham, which was downgraded to 'sell' from 'neutral' on fears over reduced UK and US military spending, is down again today. Electronic and electrical equipment stocks are higher, helped by optimism from the US chipmaker Texas Instruments which raised its second quarter sales and profit forecasts. Chinese LED supplier LED International leads the risers.However, Oxford Instruments which makes electronic measuring equipment, falls back even after its varied portfolio helped it weather the economic downturn to report higher profits for the year to March 31.Top performing sectors so far todayAutomobiles & Parts 2,098.78 +8.35%Electronic & Electrical Equipment 1,195.94 +2.22%Construction & Materials 3,604.31 +1.87%Industrial Engineering 2,799.36 +1.83%Chemicals 3,442.51 +1.41%Bottom performing sectors so far todayMedia 2,584.40 -1.47%Aerospace and Defence 2,444.67 -1.18%Industrial Metals 4,380.42 -0.89%Tobacco 20,419.75 -0.88%Life Insurance 3,021.51 -0.86%