Sector movers: Laird lifts electronics stocks higher

17th Aug 2012 16:12

Electronic and electrical equipment companies were in demand on Friday afternoon with Laird leading the way after a broker upgrade.Laird, whose solutions protect electronic devices from electromagnetic interference and heat, and enable connectivity through wireless applications and antennae systems, saw its recommendation from UBS lifted from 'neutral' to 'buy' on the back of improving growth momentum."We expect revenue growth for Laird to accelerate in H2 [second half of the year] driven by the new iPhone launch by Apple, a lap-top product cycle driven by Windows 8 and a recovery in some other end markets such as telecom infrastructure," the broker said in a research report on Friday. Sector peers Spectris and Xaar were also higher today.Meanwhile, mining stocks were out of favour with violent strikes at a Lonmin project dampening sentiment in the sector.Shares in the FTSE 250 platinum miner dropped on news of further deaths at its Marikana project in South Africa, as protests over pay prompted the police to intervene, shooting and killing dozens of employees. The death toll from the violence is now thought to have reached around 35. However, it's not just the short-term production impact that has got markets worried; people are now concerned about the wider implications for foreign investment in South Africa. Meanwhile, heavyweight resource stocks Anglo American, Rio Tinto and ENRC were also out of favour, with the latter extending losses after announcing on Wednesday that profits and revenues were down significantly in the first half. This is ENRC's sixth straight day in the red.Top performing sectors so far todayConstruction & Materials 3,295.46 +2.19%Automobiles & Parts 5,270.00 +2.13%Electronic & Electrical Equipment 3,380.45 +1.52%Industrial Transportation 2,305.98 +1.43%Technology Hardware & Equipment 783.75 +1.36%Bottom performing sectors so far todayHealth Care Equipment & Services 3,719.79 -1.34%Pharmaceuticals & Biotechnology 10,022.92 -1.07%Mining 18,156.48 -0.62%Tobacco 37,631.87 -0.62%Beverages 12,543.08 -0.46%BC