Sector movers: Outsourcers bolster support services

31st May 2011 16:41

The support services sector was among the best performing sectors of the day, helped by blue chip outsourcing peers Serco and Capita.Serco, the outsourcing company whose activities include running prisons and London's Docklands Light Railway, announced the acquisition of India-based service provider Intelenet for up to £385m. Prime Markets thinks that the purchase will "safely propel" Serco's shares higher, due to its solid performance from existing markets combined with the added exposure to emerging market growth. Capita rose higher after it bought specialist healthcare recruitment firm Team24 for an initial £24m, with up to £2m more payable depending on the firm's performance in the year to 31 March, 2012. The mobile telecommunications sector was in the red, as sentiment was dampened by Finnish mobile phone maker Nokia.Shares in Nokia took a hit in Helsinki after it said that sales in its largest division have been affected by lower-than-expected selling prices and mobile device volumes. Vodafone was among the fallers in London.---BCTop performing sectors so far todayIndustrial Metals & Mining 7,887.32 +3.38%Chemicals 7,782.69 +3.18%Personal Goods 21,469.43 +2.40%Support Services 4,681.75 +1.81%Oil & Gas Producers 8,473.01 +1.54%Bottom performing sectors so far todayReal Estate Investment & Services 1,706.13 -0.50%Mobile Telecommunications 3,862.46 -0.18%