Sector movers: Bid talk boosts property stocks

14th Aug 2009 11:59

Shares in British Land are lifting the real estate sector on reports the property firm could get a bid worth £10bn.Large cap peers Hammerson, Land Securities and Liberty International are also higher. Indian steel giant Lakshmi Mittal and Abu Dhabi's ruling family have approached Credit Suisse to prepare a possible bid for British Land, according to the Telegraph.The investors from Abu Dhabi and a group of Indian families were originally thought to be interested in buying Broadgate Circle, which is British Land's flagship development in the City.Life insurance stocks rallied sharply yesterday after Prudential lifted its dividend following what it described as a strong performance in challenging conditions. Prudential is the heaviest faller in the sector today, but is still sharply higher on the week. Top performing sectors so far todayAutomobiles & Parts 2,784.64 +3.48%Real Estate 2,043.95 +3.12%Forestry & Paper 3,019.21 +2.98%Industrial Metals 4,801.72 +2.15%Personal Goods 8,458.49 +2.00%Bottom performing sectors so far todayFood & Drug Retailers 4,237.04 -1.71%Life Insurance 3,393.62 -1.23%Mobile Telecommunications 2,924.73 -1.18%Banks 4,851.53 -0.92%Aerospace and Defence 2,703.59 -0.75%