Sector movers: Commodity stocks slip back

22nd Mar 2010 14:50

Oil and gas stocks and industrial metals and miners are lower as commodity prices slip.The oil price fell for a third day in a row after India unexpectedly raised interest rates by a quarter of one percentage point to 3.5%, stoking fears that the global recovery will falter.Copper prices were lower amid worries high Chinese stockpiles augur a slowdown in demand for the red metal. Giants Shell and BP are among the fallers in the oil sector, while International Ferro Metals is the heaviest faller in the industrial metals and mining sector.Defensive stocks are in favour with drug groups AstraZeneca and GlaxoSmithKline in demand and tobacco groups British American and Imperial wanted. Top performing sectors so far todayAutomobiles & Parts 2,983.37 +2.57%Health Care Equipment & Services 3,730.06 +1.23%Pharmaceuticals & Biotechnology 9,017.35 +0.92%Tobacco 27,092.70 +0.89%General Industrials 2,457.27 +0.68%Bottom performing sectors so far todayAlternative Energy 6,391.24 -2.04%Industrial Metals & Mining 6,163.30 -1.64%Oil & Gas Producers 8,475.68 -1.32%Fixed Line Telecommunications 1,827.30 -1.28%Real Estate Investment Trusts 1,864.41 -1.19%