Sector movers: Mondi gives forestry and paper a lift

10th Feb 2011 16:21

The forestry and paper sector is higher after paper and packaging firm Mondi said underlying operating profit for the year ended 31 December 2010 is expected to be considerably higher than the same time a year earlier. The group, which is listed in London and Johannesburg, said it expects basic underlying earnings per share for the year ended 31 December to be in the range of 44-49 cents compared to 18.7 cents a year before.Drinks giant Diageo is bringing down the beverages sector after a poor performance in its European division.Price rises, improved volumes in North America, and continuing growth in emerging markets helped the group lift revenues in the six months to December 31. However, continuing worries over the euro zone crisis seemed to be put Europeans off their drink, resulting in profits missing expectations.Top performing sectors so far todayForestry & Paper 5,644.19 +2.34%Health Care Equipment & Services 4,044.95 +1.01%Software & Computer Services 740.62 +0.72%Electricity 7,242.45 +0.46%Chemicals 6,889.91 +0.34%Bottom performing sectors so far todayAlternative Energy 3,382.03 -4.60%Beverages 9,174.66 -2.84%Industrial Metals & Mining 8,596.81 -2.30%Life Insurance 4,467.13 -2.13%Mining 27,087.78 -1.78%