Sector movers: Burberry lifts personal goods sector

18th Jan 2012 15:08

The personal goods sector was firmer on Wednesday afternoon, helped by heavyweight constituent Burberry as the markets digest yesterday's underwhelming trading statement.The luxury brand reported yesterday that underlying revenue growth for the three months ended December 31st (fiscal third quarter) slowed to 21%, from 30% in the first half. Revenues totalled £574m. However, this slowdown was widely expected and revenues actually came in towards the top of the expected range of £556-579m, according to Nomura.Nevertheless, shares finished the day broadly unchanged on Tuesday. Nomura said yesterday that this was a strong third quarter performance and brand momentum remains intact. "Burberry is well positioned to accelerate investment and space growth, while defending comp store sales through product development, flagship market investment and innovative marketing," analysts said.Shares were up 2.6% at 1,335p by 16:14, lifting the personal goods sector up an average 1.97%.Cigarette maker Imperial Tobacco was dragging the tobacco sector lower after going ex-dividend today.Top performing sectors so far todayIndustrial Metals & Mining 4,776.47 +2.44%Personal Goods 20,827.45 +1.97%Financial Services 4,563.17 +1.67%Travel & Leisure 4,326.52 +1.49%General Retailers 1,555.51 +1.40%Bottom performing sectors so far todayIndustrial Engineering 7,418.68 -2.01%Automobiles & Parts 4,753.29 -1.45%Tobacco 33,844.91 -1.23%Fixed Line Telecommunications 2,310.58 -0.73%Electricity 7,947.67 -0.67%