Sector movers: Metal miners strengthen on lifting of Chinese restriction

13th Jun 2013 15:36

The industrial metals and mining sector was in favour on Thursday, led by a bounce in the price of copper and scrapping of Chinese import restrictions. Evraz led the sector due in part to the complex readjustments made by fund managers as the Russian metals giant received its marching orders from the FTSE 100. Iron ore group Ferrexpo is likely to have benefitted from China lifting import restrictions on iron ore to benefit its steelmaking efforts. The construction & materials sector also built a small gain, with several companies up on the day, including CRH, Balfour Beatty and Kier. Chris Grigg, President of the British Property Federation, observed at the organisation's annual conference that there was "a growing sense of optimism" in the market. Defying this news, the real estate investment sector recorded a loss today.Dragging down the aerospace and defence sector, Rolls Royce was the biggest faller on the day, with broker Espirito Santo downgrading the engine maker to 'sell'. Top performing sectors so far todayIndustrial Metals & Mining 1,362.03 +3.91%Mining 15,659.40 +2.03%Construction & Materials 3,602.30 +1.78%Forestry & Paper 8,385.50 +0.58%Oil Equipment, Services & Distribution 22,130.26 +0.52%Bottom performing sectors so far todayAerospace and Defence 4,915.29 -1.17%Real Estate Investment & Services 2,348.29 -0.89%General Industrials 3,814.07 -0.79%Equity Investment Instruments 6,302.18 -0.78%General Retailers 2,342.32 -0.69%