Sector movers: COLT lifts telecoms higher

13th Aug 2012 16:13

COLT was making decent gains on Monday afternoon, lifting the telecoms sector higher after a bolt-on acquisition of a UK cloud computing specialist, beefing up its presence in the small to medium enterprises (SME) market. Colt has completed the purchase of Fidelity Telecom Limited, a privately-owned company which trades under the ThinkGrid name. Sector peers TalkTalk and Cable & Wireless Communications were also performing well on Monday afternoonOilfield services firm Petrofac was providing a drag on the oil equipment, services and distribution sector Monday afternoon despite reporting a strong first half as investors turned cautious on the pace of growth going forward Earnings per share were up 32% to 94.8 cents, with pre-tax profits rising to $412.5m, from $300m the year before. "Even though earnings per share beat, the market hasn't been told anything positive it didn't already know. Some analysts are citing the number of delayed contracts awarded in Onshore Engineering and Construction as a reason to temper FY'13 outlook," said trader David White from SpreadEX.Top performing sectors so far todayFood & Drug Retailers 4,091.19 +0.58%Insurance (non-life) 1,562.44 +0.31%Health Care Equipment & Services 3,745.66 +0.08%Fixed Line Telecommunications 2,566.53 +0.06%Real Estate Investment & Services 1,746.58 +0.05%Bottom performing sectors so far todayOil Equipment, Services & Distribution 23,731.99 -2.74%Forestry & Paper 6,064.27 -2.17%Construction & Materials 3,442.50 -1.55%Automobiles & Parts 5,024.50 -1.33%Personal Goods 20,612.62 -1.14%BC