Sector movers: Pace and BATM drag down tech stocks

10th Mar 2011 15:53

Technology hardware and equipment is the worst performing sector, helped lower by Pace and BATM Advanced Communications, who both disappointed investors with 2010 results this week.Shares in telecoms equipment supplier BATM have continued to fall since Monday after it said that pre-tax profits slid to $1.03m from $18.45m the previous year on revenues that were down to $120.58m from $135.39m.Shares in set-top box maker Pace followed suit on Tuesday when the group revealed that hefty one-off costs cut profit growth to a minimum last year.Healthcare equipment and services is performing well today, with Advanced Medical Solutions extending gains after it announced it full year results on Tuesday.The group saw strong revenue and profits growth in 2010, helped by a better than expected US launch of its LiquiBand wound closure product. Revenue in 2010 rose 32% to £31.9m from £24.1m the year before, while profit from operations before exceptional items was up 31% to £5.3m from £4.1m the year before.Top performing sectors so far todayAlternative Energy 2,896.70 +1.30%Pharmaceuticals & Biotechnology 8,776.94 +0.59%Health Care Equipment & Services 4,018.87 +0.42%Aeronautics and Defence NULL 0.00%Alternative Investment Instruments NULL 0.00%Bottom performing sectors so far todayTechnology Hardware & Equipment 714.82 -6.92%Mining 24,792.97 -3.77%Automobiles & Parts 4,678.47 -3.71%Electronic & Electrical Equipment 3,016.71 -3.34%Life Insurance 4,549.96 -3.23%