Sector movers: Auto stocks decline

23rd Feb 2011 16:11

The automobiles and parts sector is in the red today, dragged lower by carmakers across Europe.Auto stocks were in demand yesterday after a report from a German newspaper said that Scania is interested in a takeover bid for truck maker Man. Both Man and Scania parent Volkswagen are lower in Frankfurt, along with Daimler and BMW.Automotive and aerospace engineer GKN is down 3% in London.Ethanol producer GTL Resources is providing a lift to the alternative energy sector, followed by Alkane Energy and Hansen Transmissions.Top performing sectors so far todayAlternative Energy 3,328.77 +1.52%Electricity 7,482.84 +0.45%Real Estate Investment & Services 1,537.42 +0.39%Real Estate Investment Trusts 2,112.06 +0.15%Aeronautics and Defence NULL 0.00%Bottom performing sectors so far todayAutomobiles & Parts 4,757.96 -3.14%Mining 25,705.85 -2.83%Industrial Metals & Mining 7,997.36 -2.75%Industrial Engineering 6,367.30 -2.51%General Industrials 3,185.31 -2.44%