Sector movers: Miners rise as weaker dollar lifts metals prices

28th Jun 2011 16:16

The mining sector was performing well on Tuesday, tracking metals prices higher as fears over a Greek default eased slightly.The euro rose against the dollar ahead of a critical vote in Greece to approve austerity measures, vital for the country to receive financial aid.The weaker dollar prompted gains for commodities prices. Copper and silver futures were 1.1% higher before the close in the afternoon, while gold edged 0.6% higher.Anglo American, Kazakhmys, Vedanta Resources and Antofagasta were all performing strongly.In contrast, the fixed line telecommunications sector fell sharply, dragged lower by Cable & Wireless Worldwide.C&W Worldwide announced today that its chief executive Jim Marsh is to step down after the telecoms group concluded profits are likely to fall short of previous expectations due to slower than expected sales so far this year. While the financial performance in the first 10 weeks of the financial year is in line with expectations, sales orders, which contribute to margin growth later in the year, did not meet expectations. BCTop performing sectors so far todayMining 25,093.16 +2.09%Household Goods & Home Construction 6,677.33 +2.01%Automobiles & Parts 5,141.41 +1.90%Forestry & Paper 6,462.81 +1.69%Electronic & Electrical Equipment 3,227.40 +1.64%Bottom performing sectors so far todayFixed Line Telecommunications 2,350.40 -2.41%Mobile Telecommunications 3,698.30 -0.94%Health Care Equipment & Services 3,605.10 -0.32%Construction & Materials 3,704.60 -0.21%Electricity 8,616.39 -0.10%