Sector movers: Miners buoyant

28th Jun 2010 15:16

In a buoyant mining sector Kazakhmys has received a fillip from positive comment from Citigroup while FTSE 100 new entrant Essar Energy is wanted after JPMorgan Cazenove initiated coverage with an "overweight" rating.The banking sector is lower though a bullish note from Nomura is boosting Lloyds Banking, which the broker has named as its preferred stock in the sector. It keeps its reduce recommendation on Royal Bank of Scotland though the price target has been hiked to 41p from 31p. Barclays is cut to "neutral" with the price target slashed to 300p from 425p on concerns that the valuation "is likely to remain capped by the business mix and associated regulatory risk." Among the Far Eastern banks Nomura prefers Standard Chartered, which it rates a "buy", to HSBC, which is has downgraded to "neutral". HSBC's price target has been cut to 725p from 800p.Standard Chartered's comment that income in the first six months is expected to be on a par with the same period of last year has knocked its share price.Top performing sectors so far todayForestry & Paper 4,299.93 +1.71%Electricity 6,460.75 +0.69%Personal Goods 13,275.73 +0.58%Chemicals 5,066.17 +0.47%Mining 20,319.73 +0.36%Bottom performing sectors so far todayAlternative Energy 5,179.57 -2.08%Food & Drug Retailers 4,492.81 -1.26%Banks 4,596.60 -1.20%Tobacco 25,131.54 -1.07%Health Care Equipment & Services 3,521.67 -0.91%