Sector movers: Mothercare pressures retailers lower

31st Mar 2011 14:50

Retailers are sharply lower Thursday, with blue chips Next and Kingfisher falling into the red. On the FTSE 250, Mothercare, Dixons, Carpetright, Sports Direct and Dunelm are providing a drag. Baby clothes retailer Mothercare has seen its share price drop by almost a tenth, after margins were squeezed in the quarter to 26 March. Dixons' share price is down almost 8% after UBS slashed its target price on the stock on the back of yesterday weak trading update. The target price fell from 23p to 14p.The technology hardware and equipment sector is performing well, with wireless technology group Toumaz among those heading higher.The group reported on Thursday that it saw revenues fall in the year to 31 December as it concentrated its activities on developing products that will deliver future sales. BCTop performing sectors so far todayTechnology Hardware & Equipment 754.93 +1.71%Forestry & Paper 6,473.59 +1.26%Household Goods & Home Construction 6,277.23 +0.77%Oil Equipment, Services & Distribution 25,375.09 +0.70%Food Producers & Processors 5,082.84 +0.51%Bottom performing sectors so far todayGeneral Retailers 1,567.46 -1.86%Real Estate Investment & Services 1,604.18 -1.11%Banks 4,667.36 -1.01%Electronic & Electrical Equipment 2,935.32 -0.89%Health Care Equipment & Services 3,899.45 -0.89%