Sector movers: Banks helped higher by macro data

22nd Dec 2011 15:42

The banks were on the rise on Thursday afternoon helped by some helpful economic data at home and abroad.Lloyds led the way, followed closely by RBS and Old Mutual as stocks rallied on news that the UK gross domestic product (GDP) grew by 0.6% in the third quarter in volume terms versus the previous three months, according to the latest data released this morning by the Office for National Statistics (ONS). Market consensus was for a reading of 0.5%. Meanwhile, the US Department of Labor has revealed that initial unemployment claims for the week ending December 18 fell by 4,000 to 364,000, compared with market consensus looking for a reading of 380,000 claims.BCTop performing sectors so far todayReal Estate Investment & Services 1,532.91 +2.19%Banks 3,321.29 +2.08%Industrial Metals & Mining 3,996.42 +2.05%Construction & Materials 3,362.39 +1.96%Oil & Gas Producers 8,438.31 +1.77%Bottom performing sectors so far todayIndustrial Transportation 2,177.00 -0.10%