Sector movers: Ferrexpo lifts metals sector

23rd Mar 2010 12:44

The industrial metals and mining sector is higher after a well received update from Ferrexpo.The iron ore producer saw earnings slump in 2009 as demand for iron ore remained poor until the final quarter of the year.Also in the sector, First Quantum Minerals is flat. The miner saw better than expected fourth quarter figures and predicts production increases for 2010.Investors have no appetite for food stocks. Cake and bread supplier Finsbury Food leads the sector lower after it said it was seeing the impact of consumers seeking better value as it posted a fall in revenues and profits in the 26 weeks to January 2.Pre-tax profits slipped to £1.81m from £1.84m over the 27 weeks to January 3, 2009 as revenues fell to £82.9m from £89.1m.Top performing sectors so far todayAutomobiles & Parts 3,205.49 +4.66%Industrial Metals & Mining 6,395.36 +3.13%Mining 23,496.86 +1.67%Oil Equipment Services & Distribution 17,597.19 +1.60%Fixed Line Telecommunications 1,852.37 +1.20%Bottom performing sectors so far todayAlternative Energy 6,128.26 -3.11%General Retailers 1,680.23 -0.77%Real Estate Investment & Services 1,566.64 -0.68%Food Producers & Processors 5,016.09 -0.61%Health Care Equipment & Services 3,709.08 -0.56%