Sector movers: Prudential boosts life insurers

9th Mar 2011 15:36

Prudential is providing a lift in the life insurance sector.The blue chip insurer announced today that it made 20% more in 2010 than it did the year before as Asia raced ahead of the US as the company's biggest earner. Group operating profit before tax on a European Embedded Value (EEV) basis jumped to £3.70bn in 2010 from £3.09bn the year before.Also higher is sector peer Old Mutual which also released its full-year results this week. The group has been through the mill this last six months, but strong growth in new business sales, cost cutting and favourable exchange rates pushed profits up by 14% in 2010.However, industrial metals and mining stocks are not doing too well today. Iron ore producer Ferrexpo and copper and gold miner First Quantum Minerals are lower.As is Kalahari Minerals, which announced on Monday that state-owned Chinese CGNPC Uranium Resources is in bid discussions and could place a 290p a share offer for the AIM-quoted company.Top performing sectors so far todayAlternative Energy 2,836.11 +2.40%Life Insurance 4,696.68 +2.18%Aerospace and Defence 3,336.00 +1.19%Household Goods & Home Construction 6,178.50 +1.05%Personal Goods 20,151.90 +0.98%Bottom performing sectors so far todayIndustrial Metals & Mining 7,712.23 -2.68%Technology Hardware & Equipment 771.66 -1.70%Mining 25,760.41 -1.47%Tobacco 28,191.69 -1.44%Oil & Gas Producers 8,597.07 -1.23%