Sector movers: Miners lower as Vedanta falls

8th Jul 2011 15:30

The mining sector was among the worst performing sector on Friday, with India-focused mining giant Vedanta Resources firmly in the red.According to Reuters, the firm is unwanted over concerns that the government in India is considering a tax on the nation's miners "to provide welfare of people affected by mining companies". Shares tumbled nearly 5% in the afternoon.Kazakhmys, Antofagasta and ENRC were also lower.Additionally, sector peer Angel Mining lost a bit of shine after it said it was unable to assess the gold content of ore it poured from its Nalunaq Mine in Greenland. Shares fell 10%.The food producing and processing sector was performing well, helped by FTSE 100 firm Associated British Foods.The firm - which owns the Kingsmill and Allison bread brands, Ovaltine and Ryvita - is the highest riser on the blue chip index ahead of its third quarter interim management statement due next week.BCTop performing sectors so far todayFood & Drug Retailers 4,823.81 +0.98%Tobacco 32,509.64 +0.90%Electronic & Electrical Equipment 3,441.51 +0.48%Food Producers & Processors 5,467.88 +0.43%Pharmaceuticals & Biotechnology 9,794.45 +0.37%Bottom performing sectors so far todayTechnology Hardware & Equipment 781.99 -2.86%Mining 26,265.37 -2.11%Industrial Metals & Mining 7,584.21 -1.89%Media 4,286.74 -1.84%Forestry & Paper 7,028.31 -1.73%