Sector movers: Johnson Matthey provides a catalyst for chemicals sector

19th Jul 2011 16:21

Johnson Matthey rose strongly on the FTSE 100 on Tuesday, driving the chemicals sector to the top of the pile.The company, focused in catalysis, precious metals, fine chemicals and process technology, saw sales and profits both register double-digit percentage gains in the first quarter, "benefiting principally from higher demand for our products and operational leverage," said chairman Sir John Banham. Prime Markets kept its buy rating on the group, saying that today's trading statement represents an attractive entry point in the short and long term for investors. However, the tobacco sector was the worst performing sector, with sector giants Imperial Tobacco and British American Tobacco both in the red.BCTop performing sectors so far todayChemicals 7,691.52 +2.40%Fixed Line Telecommunications 2,332.28 +2.26%Industrial Metals & Mining 7,236.96 +1.98%Mining 25,419.93 +1.66%Oil Equipment, Services & Distribution 25,267.37 +1.60%Bottom performing sectors so far todayTobacco 31,525.05 -0.84%Household Goods & Home Construction 6,597.29 -0.56%Beverages 9,717.29 -0.55%Automobiles & Parts 5,305.07 -0.44%Real Estate Investment & Services 1,676.91 -0.40%