Sector movers: HomeServe lifts support services sector

10th Nov 2011 16:12

A massive leap in the share price of HomeServe gave the support services sector a boost today.Shares in FTSE 250 repair services firm HomeServe roared higher today after it said it had restarted sales activity in a "limited way" following the suspending of its telesales operation 11 days ago. On 31 October the firm said it was temporarily suspending its sales and marketing activity, after a review showed sales processes were not up to standard. HomeServe then began a re-training programme for its telephone sales staff and is developing new scripts, and is now said to be taking 'inbound' calls from customers.The situation has seen the firm's share price tank from 485.3p (Friday 28 October) to just 218.5p as of yesterday's close (9 November). However, today's news has prompted investors to buy back in, with the shares 16.2% higher at 253.9p by 16:21. Sector peer Tanfield, the AIM-listed aerial work platform maker, also roared higher after it was announced that US firm Smith Electric Vehicles Corp - in which it holds a 27.22% stake - has filed for a $125m initial public offering on Wall Street.Shares in Tanfield had jumped 30.72% higher to 50p.Heading the other way were the industrial metals and mining stocks, with FTSE 250 iron ore pellet miner Ferrexpo taking a hit.Shares fell over 3% despite the firm saying that it is on track to meet full-year targets, as production has remained in line with expectations. The statement did flag higher costs as a result of local inflation, which could have weighed on the share price.Sector peer Talvivaara continues to fall after yesterday revealing that it made a loss for the third quarter after production was hurt by technical problems. Shares fell a further 2.64% on Thursday.BCTop performing sectors so far todayForestry & Paper 4,875.12 +0.82%Support Services 4,067.04 +0.36%Technology Hardware & Equipment 747.07 +0.28%Mobile Telecommunications 4,012.44 +0.25%Pharmaceuticals & Biotechnology 9,444.20 +0.08%Bottom performing sectors so far todayIndustrial Metals & Mining 4,299.34 -3.45%Electronic & Electrical Equipment 2,573.12 -2.92%Industrial Transportation 2,145.74 -2.23%Mining 20,505.64 -1.58%General Retailers 1,554.72 -1.56%