Sector movers: Miners fall back after updates

30th Apr 2010 12:08

Mining stocks are lower after failing to impress the market with trading updates.Alba Mineral Resources, which has nickel, gold and uranium interests in Ireland, Scotland and Mauritania, is deep in the red after saying the costs of keeping its exploration activities up and running has 'severely restricted' its working capital position. Copper miner African Eagle said pre-tax losses fell to £1.18m from the £5.4m posted last year. 'It has been a frustrating year for the board and management as the share price continues to languish despite the growing value of our assets,' said chairman Wuan Worthington. 'I expect 2010 to produce further positive developments which will finally give us recognition in the eyes of the investment community.'Advertising giant WPP gives the media sector a lift after it said stabilisation and subsequent growth in revenue came earlier than expected.Reported revenues were £2.078 billion in the first quarter, down just under 2% from last year. Revenues in constant currency were up 0.5%, reflecting the strength of the pound sterling against the US dollar and Euro.Top performing sectors so far todayIndustrial Metals & Mining 6,706.89 +1.27%Alternative Energy 6,730.77 +0.90%Construction & Materials 3,642.69 +0.74%Real Estate Investment & Services 1,548.23 +0.67%Media 3,872.33 +0.65%Bottom performing sectors so far todayAutomobiles & Parts 3,284.98 -3.24%Forestry & Paper 4,827.72 -1.86%Mining 22,455.70 -1.86%Banks 5,093.79 -1.67%Aerospace and Defence 3,307.06 -1.64%