Sector movers: Food stocks jump after Unilever acquisition

27th Sep 2010 14:26

The food producer sector is higher for non-food reasons.Investors have applauded food and household goods giant Unilever's purchase of the US firm Alberto Culver, whose brands include the haircare specialist V05, for $3.7bn (£2.3bn). Imperial Tobacco is dragging the tobacco sector lower. The Lambert & Butler seller has agreed to assist the European Union as it cracks down on tobacco smuggling, paying $300m (£189m) over the next 20 years.Top performing sectors so far todayIndustrial Metals & Mining 6,489.34 +2.77%Industrial Engineering 5,740.32 +1.90%Food Producers & Processors 4,863.55 +1.88%Electronic & Electrical Equipment 2,349.30 +1.60%Software & Computer Services 692.54 +1.50%Bottom performing sectors so far todayGeneral Industrials 2,759.41 -1.12%Fixed Line Telecommunications 1,980.20 -0.97%Mobile Telecommunications 3,673.78 -0.75%Tobacco 27,881.40 -0.75%Food & Drug Retailers 5,048.70 -0.53%