Sector movers: Industrial metal and mining stocks slump

28th Jul 2014 15:56

Industrial metal and mining stocks dragged on the market on Monday as data showed gold purchases by China fell 19% in the first six months of the year.Gold futures expected to decline in July after rising 10% in the first half of the year. Also weighing on the sector was a drop in copper prices. Prices fell for a second day after Freeport-McMoRan received approval from Indonesia to resume exports from its Grasberg mine.On the upside, household goods and home construction shares were higher, led by consumer goods company Reckitt Benckiser. The company announced that RB Pharmaceuticals will be floated on the London stock exchange as a standalone company. The group also reported higher first half revenue and profit at constant exchange rates.Top performing sectors so far todayHousehold Goods & Home Construction 11,683.40 +0.81%Electricity 9,488.85 +0.64%Gas, Water & Multiutilities 6,073.71 +0.46%Banks 4,437.29 +0.37%Fixed Line Telecommunications 4,411.26 +0.27%Bottom performing sectors so far todayIndustrial Metals & Mining 1,177.96 -3.36%Technology Hardware & Equipment 1,020.07 -2.40%Health Care Equipment & Services 5,763.65 -1.95%Industrial Transportation 2,743.08 -1.94%Electronic & Electrical Equipment 3,713.67 -1.24%RD