Sector movers: Mining rally stops for breath

21st Sep 2009 11:32

Mining stocks have run into profit taking amid weakness in the metals markets.The sector posted good gains last week in line with growing optimism over the prospects for global economic recovery. Even Antofagasta, upgraded today to 'buy' from 'neutral' in a Goldman Sachs mining sector review, is among the fallers. Vedanta, downgraded to 'neutral' from 'buy', is down 3%.With markets generally depressed, defensive stocks are wanted. These include drug groups GlaxoSmithKline and AstraZeneca and the electricity group Scottish and Southern. Top performing sectors so far todayPharmaceuticals & Biotechnology 8,282.91 +0.39%Electricity 6,634.35 +0.29%Industrial Transportation 1,998.77 +0.24%Personal Goods 8,717.09 +0.23%Health Care Equipment & Services 3,121.58 +0.07%Bottom performing sectors so far todayMining 17,678.65 -2.55%Oil Equipment Services & Distribution 15,691.34 -2.02%Industrial Engineering 3,574.26 -1.87%Fixed Line Telecommunications 1,959.31 -1.82%Banks 5,219.04 -1.69%