Sector movers: Mondi boosts forestry and paper sector

26th May 2011 15:15

Paper and packaging firm Mondi is providing a boost in the forestry and paper sector.Earlier this month, Mondi said that underlying profit in the first quarter of 2011 of €187m was well ahead of the figure for the corresponding period of 2010. Following the results, RBS said that the stock was its top pick across the pan-European paper sector, and raised its target price fom 675p to 725p, suggesting that the share price still has a long way to go from its current level of around 600p.Blue chip Burberry is dragging down the personal goods sector.The luxury fashion brand is under the weather despite recording a sharp rise in sales in the year to 31 March, helped by strong sales of non-clothing items and growth in the emerging markets.---BCTop performing sectors so far todayForestry & Paper 6,435.89 +2.22%Industrial Engineering 7,263.04 +1.29%Oil Equipment, Services & Distribution 25,627.01 +1.28%Real Estate Investment Trusts 2,223.88 +1.15%Mining 25,135.01 +0.92%Bottom performing sectors so far todayPersonal Goods 20,492.33 -3.73%Mobile Telecommunications 3,811.72 -1.05%Chemicals 7,438.14 -0.80%Construction & Materials 3,878.19 -0.77%Fixed Line Telecommunications 2,383.74 -0.52%