Sector movers: property players boosted by demand report

28th Jun 2013 14:55

Property sector companies received a strong boost on Friday from read-across news that overseas investment and commercial occupiers will maintain healthy demand for the next five years. The sector was up 1% by mid-afternoon.The 'Global Investor Appetite' report by law firm Nabarro, saw investors increase interest in Real Estate Investment Trusts including Great Portland Estates, with shares in the London property developer rising 2.3% during the day to 527p.Others in the sector, such Derwent also rose on no company-specific news, while Segro climbed 1.7% to 279p after it confirmed the signing of a €1bn continental European warehouse joint venture with Canadian pension fund manager PSP Investments.Going strongly the other direction, industrial metals and miners, led by the Steel Authority of India, steel specialist Evraz and iron play Ferrexpo. Continuing trends for falling prices are the likely cause. Top performing sectors so far todayReal Estate Investment Trusts 2,306.19 +1.04%Forestry & Paper 8,816.36 +1.04%Electricity 9,590.75 +0.95%Gas, Water & Multiutilities 5,579.38 +0.84%Food Producers & Processors 7,164.69 +0.75%Bottom performing sectors so far todayElectronic & Electrical Equipment 3,606.06 -1.80%Industrial Metals & Mining 1,136.10 -1.33%Tobacco 37,463.05 -1.22%Industrial Transportation 2,813.45 -1.08%Technology Hardware & Equipment 965.28 -1.08%