Sector movers: AT&T move gives telecoms sector a boost

21st Mar 2011 16:13

The mobile telecommunications sector is performing well led by blue chip Vodafone, which is rising on the back of AT&T's $39bn bid for Deutsche Telekom's T-Mobile USA.If the bid is allowed, the enlarged firm will become number one, but both AT&T and Verizon Wireless - in which Vodafone has a 45% stake - will have huge market power in the fast growing mobile data, video and apps market. The electricity sector is the worst performing sector after it was announced that UK energy companies will be referred to the Competition Commission this year unless they make their bewildering array of tariffs easier to understand.Industry regulator Ofgem said customers are being "bamboozled" by a complex system of tariffs that's risen from 180 to over 300 since 2008. "That is why we are planning to sweep away this complexity so suppliers' prices are fully exposed to allow easy price comparisons," Ofgem boss Alistair Buchanan said Monday.Power providers Drax and Scottish & Southern Energy are in the red.Top performing sectors so far todayMobile Telecommunications 4,022.76 +3.77%Personal Goods 19,243.62 +2.83%Industrial Engineering 6,781.32 +2.52%Software & Computer Services 704.48 +2.38%Aerospace and Defence 3,261.97 +2.31%Bottom performing sectors so far todayElectricity 7,604.60 -0.21%Leisure Goods null 0.00%Gas, Water & Multiutilities 4,543.29 +0.41%Oil & Gas Producers 8,499.89 +0.45%Oil Equipment, Services & Distribution 24,435.35 +0.55%