Sector movers: International Power lights up electricity sector

9th Mar 2010 11:39

Strong gains from International Power after full-year results help lift the electricity sector higher.The energy company reported a slight increase in its full-year dividend but said its near-term performance will be impacted by weak market conditions in the US and the UK.Antofagasta is among the stocks dragging the mining sector lower.Lower copper prices hit the Chile-based miner and railway owner's earnings last year.Net earnings fell to $668m compared with $843m in 2008 excluding one-offs on sales of $2.96bn, down from $3.37bn. Copper production was 442,500 tonnes, ahead of the original forecast for the year of 433,000 tonnes.Top performing sectors so far todayElectricity 6,649.96 +0.78%Industrial Engineering 4,390.02 +0.71%Pharmaceuticals & Biotechnology 8,800.26 +0.55%Industrial Transportation 2,232.60 +0.35%Food Producers & Processors 5,157.15 +0.31%Bottom performing sectors so far todayMining 22,773.02 -2.07%Banks 4,961.47 -1.98%Tobacco 27,568.25 -1.74%Alternative Energy 7,194.65 -1.37%Insurance (non-life) 1,360.27 -1.24%