Sector movers: Miners resume rally

22nd Sep 2009 09:29

Mining stocks are going well as metals prices resume their rally after a pause yesterday. Among the risers is the FTSE 100 giant Rio Tinto, which said today that it is to continue its selling spree by selling Alcan Composites, part of its Alcan Engineered Products division. Selling news also boosts gold miner Leyshon Resources. Its shares are up 27% after it said it had reached agreement on the divestment of its Zheng Guang project in China. Sticking with the yellow metal, Russia-focused Highland Gold said profit soared 70% for the half year ended 30 June 2009. It was helped by higher production of the as well as strong prices.With investors in upbeat mood and markets rallying, there is little appetite for defensive investments such as utility stocks. Water groups Northumbrian and United Utilities are unwanted.Top performing sectors so far todayMining 18,203.92 +3.16%Forestry & Paper 3,478.07 +1.96%Oil Equipment Services & Distribution 15,974.55 +1.84%Chemicals 4,157.76 +1.67%Industrial Metals 4,567.89 +1.57%Bottom performing sectors so far todayHousehold Goods 6,183.08 -0.77%Technology Hardware & Equipment 313.90 -0.73%Food & Drug Retailers 4,546.10 -0.70%Gas, Water & Multiutilities 3,807.55 -0.60%Personal Goods 8,672.91 -0.59%