Sector movers: Miners out of favour

3rd May 2011 14:32

The mining sector is under the weather today on the back of falling metals prices. Metals prices have continued to fall since the death of Al-Qaeda leader Osama Bin Laden yesterday, which triggered a sell-off in the 'safe-haven' investments of precious metals, as geopolitical anxieties eased. Weighing on silver prices is the US metals exchange's (Comex division of the New York Mercantile Exchange) announcement to raise the initial margin requirements on futures contracts, causing smaller investors to liquidate positions, analysts have suggested.Blue chips Randgold Resources, Kazakhmys and Antofagasta are among the worst performers on the FTSE 100.The personal goods sector is firmer, helped by gains at luxury brand Burberry.The stock is trading 2% higher as of Tuesday afternoon, after UniCredit hiked its target price to 1,350p, from 1,200p.Consumer products group PZ Cussons, famous for its Imperial Leather soap, is also providing a boost to the sector.Top performing sectors so far todayPersonal Goods 21,730.08 +1.56%Household Goods & Home Construction 6,557.93 +1.38%Electronic & Electrical Equipment 3,208.72 +1.23%Food Producers & Processors 5,246.67 +1.19%Real Estate Investment & Services 1,664.43 +1.13%Bottom performing sectors so far todayGeneral Industrials 3,311.45 -2.66%Fixed Line Telecommunications 2,352.80 -1.51%Mining 26,518.61 -1.11%Electricity 8,262.24 -0.91%General Retailers 1,729.61 -0.89%