Sector movers: RBS drags back banks

7th Aug 2009 10:13

RBS is leading the banking sector lower after rounding of the latest stream of banking results by posting a small profit, but seeing bad debts soar to £7.5bn.Chief executive Stephen Hester called the results "poor" following a jump in losses attributable to shareholders to £1.04bn from £827m in 2008.RBS shares are down 15%, though this comes after strong gains yesterday and the shares are still higher on the week. Lloyds, which led the FTSE 100 higher yesterday, is also nursing significant losses today.The FTSE 100 jumped into the blue after well-received unemployment data from the US, but defensive stocks still remain in favour.Drug giants GlaxoSmithKline and AstraZeneca are helping lift the pharmaceuticals sector higher, while British American and Imperial have tobacco in the blue.Top performing sectors so far todayMobile Telecommunications 2,943.99 +2.86%Pharmaceuticals & Biotechnology 8,040.55 +1.80%Tobacco 22,363.83 +1.75%Oil & Gas Producers 6,989.49 +1.68%Electricity 6,098.47 +1.29%Bottom performing sectors so far todayReal Estate 1,896.09 -2.44%Industrial Metals 4,771.05 -1.87%Industrial Engineering 3,067.30 -1.53%General Financial 4,785.46 -1.09%Mining 16,136.47 -1.08%