Sector movers: Land Securities boosts real estate trusts

18th May 2011 15:36

The real estate investment trust sector is the best performing sector after full-year results from Land Securities.Property giant Land Securities is towering above the rest of the FTSE 100 after it posted a sharp rise in profits and net asset value in the year to 31 March and predicted continued growth as the recovery proceeds. Pre-tax profits climbed to £1.227bn from £1.069bn the previous year, while the net asset value per share was up to 885p from 750p.Peers British Land and Hammerson are up in sympathy. Drax, Scottish & Southern Energy and Andes Energia are providing a drag in the electricity sector.---BCTop performing sectors so far todayReal Estate Investment Trusts 2,244.82 +3.63%Mining 25,394.75 +2.46%Industrial Metals & Mining 7,636.01 +2.05%Technology Hardware & Equipment 745.87 +1.83%Forestry & Paper 6,500.51 +1.77%Bottom performing sectors so far todayElectricity 8,127.81 -0.83%Electronic & Electrical Equipment 3,184.18 -0.43%Support Services 4,559.87 -0.31%Personal Goods 21,431.90 -0.26%Food & Drug Retailers 4,845.42 -0.14%