Sector movers: Bodycote lifts industrial engineering sector

27th Apr 2011 14:06

Industrial engineers are wanted today, helped by a positive first quarter update by thermal processing services firm Bodycote.The metals engineer said revenues for the three months to 31 March 2011 were 19.2% higher than in the same period last year, and expects headline operating profit for the year to 31 December 2011 to be towards the top end of analysts' forecasts.Blue chips IMI and Weir Group are also making gains.However, the food producing sector is in the red, pressured lower by large caps Associated British Foods and Premier Foods.British Sugar and Primark owner Associated British Foods saw adjusted earnings per share grow by 7.9% year on year at the interim stage, ahead of some brokers' expectations, but warned full year results will only be roughly on a par to last year. While Premier Foods managed to up its prices to cover inflation in the first quarter, the Hovis bread and Branston pickle maker saw sales fall by 3.1%. ---bcTop performing sectors so far todayElectronic & Electrical Equipment 3,165.42 +4.71%Automobiles & Parts 5,234.93 +3.51%Industrial Engineering 7,396.64 +2.19%Household Goods & Home Construction 6,479.64 +1.87%Forestry & Paper 6,446.66 +1.79%Bottom performing sectors so far todayHealth Care Equipment & Services 3,650.65 -2.82%Food Producers & Processors 5,238.12 -1.13%Mining 26,873.73 -0.91%Technology Hardware & Equipment 796.00 -0.76%Banks 4,761.07 -0.60%