Sector movers: Drinks stocks raise a glass to SABMiller

18th Nov 2010 13:51

The drinks sector is fizzing after well-received results from brewing giant SABMiller.Pre-tax profits at the brewer of famous brands such as Miller and Peroni climbed to $1.69bn (£1.06bn) from $1.5bn over the same period the previous year as revenues rose to $9.43bn from $8.84bn.Earnings fell back in Europe due largely to economic weakness, but the company did well elsewhere as emerging markets continued to grow and as it reaped the benefits of lower costs.Few drinks stocks are as exposed to the economic turmoil plaguing some European countries as Irish cider maker C&C, but the Magners group is even higher than SABMiller today.The construction & materials sector is in a hole after ground preparation engineer Keller said it anticipates full year results to be around the bottom end of market expectations as intense competition continues to bite. Its shares are down 8%.Top performing sectors so far todayBeverages 9,299.01 +2.97%Industrial Metals & Mining 7,734.13 +2.73%Alternative Energy 3,505.19 +2.43%Technology Hardware & Equipment 550.90 +2.24%Chemicals 6,286.34 +2.19%Bottom performing sectors so far todayConstruction & Materials 3,602.62 -0.63%Forestry & Paper 5,417.99 -0.49%Gas, Water & Multiutilities 4,612.70 -0.42%Support Services 4,113.73 -0.34%Fixed Line Telecommunications 2,143.82 -0.17%