Sector movers: Metals rise boosts miners

6th Oct 2010 14:22

With metals prices on the rise mining stocks are going well.Antofagasta, Anglo American, Kazakhmys and Xstrata are still sporting handsome gains. Metals prices have strengthened in line with a weaker dollar, which comes amid speculation the Federal Reserve will implement more monetary stimulus measures.Gold is also on the up, attracting buyers to African Barrick Gold.The mining sector's two leviathans, Rio Tinto and BHP Billiton, are also wanted, even though doubts persist about their iron ore joint venture. Late last night Rio said it has not made any decision about the $116bn collaborative project in Western Australia. There are reports Rio has killed the deal off after failing to get regulatory approval.The software sector is lower after a trading update from search software giant Autonomy saw the shares take a tumble. The corporate infrastructure software specialist expects to report record third quarter results, with revenues towards the top end of the guidance range of $206m to $211m. However, the company is taking "a prudent approach to forecasting" full year revenue which it now thinks will be around 3% behind the market consensus expectation.Top performing sectors so far todayIndustrial Metals & Mining 7,013.02 +3.12%Mining 23,918.95 +2.96%Automobiles & Parts 3,988.74 +1.61%Fixed Line Telecommunications 2,066.93 +1.49%Travel & Leisure 4,701.72 +1.35%Bottom performing sectors so far todaySoftware & Computer Services 679.71 -4.36%Technology Hardware & Equipment 579.93 -1.83%Personal Goods 17,398.01 -0.88%Insurance (non-life) 1,499.67 -0.77%Gas, Water & Multiutilities 4,429.30 -0.53%