Sector movers: Food producers and miners drop

5th Nov 2009 13:26

Food Producers & Processors is the worst performing sector after Unilever saw third quarter pre-tax profits drop by 43%, though volume growth of 3.6% came in better than expected.Pre-tax profits dropped to €1.42bn in the three month ended September compared with €2.50bn last year. Turnover was down 2% at €10.20bn.Nomura Securities expected volume growth of 3.3%, while the consensus was only +2.3%. The Anglo-Dutch giant said all regions showed an improving trend in both volumes and operating margins in the third quarter. Miners are also lower. India-focused Vedanta ramped up production in the first half, although the contribution from higher volumes was more than offset by weaker metal prices. Vedanta is lower, as are fellow miners Lonmin, Xstrata, Anglo American, Kazakhmys, BHP Billiton and Rio Tinto.Top performing sectors so far todayIndustrial Transportation 1,937.30 +2.16%Food & Drug Retailers 4,763.68 +1.79%Tobacco 23,652.29 +1.74%Mobile Telecommunications 3,164.65 +1.28%Media 3,183.19 +0.58%Bottom performing sectors so far todayFood Producers & Processors 4,566.68 -1.64%Mining 18,439.69 -1.42%Banks 4,789.72 -1.26%Life Insurance 3,757.36 -1.17%Real Estate 1,963.95 -1.14%