Sector movers: GKN lifts auto stocks

25th Mar 2011 15:42

The automobiles and parts sector the best performer today on the back of strong gains from blue chip aerospace and vehicles engineer GKN.The group is higher after announcing yesterday that it will wave goodbye to longstanding chief executive Sir Kevin Smith at the end of 2011.His place at the helm will be taken by Nigel Stein, former group finance director and boss of the automotive unit for the past four years.The general retailers are on the decline after a strong day Thursday.Peers Ted Baker, Kingfisher and Next all reported mighty increases in profit yesterday. However, all three are in the red today.BCTop performing sectors so far todayAutomobiles & Parts 4,645.74 +2.37%Household Goods & Home Construction 6,249.22 +2.07%Industrial Metals & Mining 8,432.21 +1.77%Beverages 9,218.12 +1.48%Technology Hardware & Equipment 729.40 +1.48%Bottom performing sectors so far todayConstruction & Materials 4,238.53 -0.96%General Retailers 1,640.69 -0.65%Life Insurance 4,417.25 -0.57%Electronic & Electrical Equipment 2,937.82 -0.34%Support Services 4,446.37 -0.14%