Sector movers: Beverages slide as SABMiller comes off recent gains

23rd May 2014 15:00

The beverages sector was the biggest faller as SABMiller retreated following yesterday's strong rise, which came on the back of a strong set of annual results. The group posted a 2% rise in adjusted pre-tax profit to $5,712, while the dividend was increase to 105 cents, up from 101 cents a year earlier. Burberry led the personal goods sector lower following gains earlier this week after it posted a 17% rise in annual revenue to £2.3bn, boosted by strong retail sales. The luxury fashion house reported adjusted pre-tax profit of £461m in the year to end of March 2014, up 8% on the previous year. Tobacco stocks were also lower following strong gains in yesterday's session which came after it was rumoured 42% British American Tobacco-owned Reynolds American was engaged in bid discussions with sector peer Lorillard. Broker Citigroup said the result would create a "formidable competitor" in the States. Top performing sectors so far todayIndustrial Metals & Mining 1,240.43 +2.20%Forestry & Paper 11,579.21 +2.19%Fixed Line Telecommunications 4,457.66 +0.93%Automobiles & Parts 9,057.67 +0.89%Industrial Transportation 3,055.09 +0.77%Bottom performing sectors so far todayBeverages 14,385.12 -1.55%Personal Goods 23,648.30 -1.21%Health Care Equipment & Services 5,285.91 -0.99%Tobacco 39,964.61 -0.85%Technology Hardware & Equipment 1,065.06 -0.78%