Sector movers: Oil gushes higher, no support for support services

17th Oct 2011 16:20

Company updates from the oil sector have been well-received today.Integrated oil giant BP and US counterpart Anadarko have reached a settlement over the Deepwater Horizon rig explosion at the Macondo asset in the Gulf of Mexico. Anadarko will pay BP $4bn in a single cash payment, which will go into the $20bn trust fund BP set up to meet individual, business and government claims relating to the tragic incident, as well as the cost of the natural resource damages. BP's shares are firm on the news. Methanex New Zealand, a subsidiary of Canada-based methanol producer, is set to fund 50% of the Mauku-1 well in Kea Petroleum's wholly owned exploration permit situated onshore and offshore in the Taranaki basin of New Zealand. The news sends the latter's shares higher.Moving further down the scale, Petrels' shares are soaring after the Irish oil exploration group announced that it has been awarded two licensing options to explore in the prospective Porcupine Basin off the coast of the emerald isle. News from the support services sector has been given a mixed reception today, but overall the trend is lower.After appointing David Sugden as interim chairman only last week, Mouchel, the provider of outsourced services such as building maintenance and parking enforcement, announced on Monday that he resigned over the weekend. The shares have jumped.Security solutions giant G4S intends to create the world's largest security and facilities services group with the huge £5.2bn purchase of ISS. ISS, headquartered in Copenhagen, Denmark, has more than 520,000 employees and provides Facilities Management, Cleaning, Support, Property, Catering and Securities services. The market has given the deal an emphatic thumbs down though, with G4S falling more than 20%.Top performing sectors so far todayOil & Gas Producers 8,097.14 +0.55%Industrial Transportation 2,240.79 +0.09%Alternative Energy 8,888.00 0.00%Leisure Goods null 0.00%Gas, Water & Multiutilities 4,731.87 -0.10%Bottom performing sectors so far todayAutomobiles & Parts 4,437.65 -3.95%Industrial Metals & Mining 4,461.55 -3.28%Support Services 4,009.76 -2.96%Mining 19,822.14 -2.04%General Industrials 2,578.52 -1.98%Top performing sectors so far todayOil & Gas Producers 8,097.14 +0.55%Industrial Transportation 2,240.79 +0.09%Alternative Energy 8,888.00 0.00%Leisure Goods null 0.00%Gas, Water & Multiutilities 4,731.87 -0.10%Bottom performing sectors so far todayAutomobiles & Parts 4,437.65 -3.95%Industrial Metals & Mining 4,461.55 -3.28%Support Services 4,009.76 -2.96%Mining 19,822.14 -2.04%General Industrials 2,578.52 -1.98%