Sector movers: Real estate stocks up, British Land higher

15th Jun 2011 15:07

British Land is lifting the real estate investment trust sector higher after the government's decision not to list the Broadgate office development in the City of London.English Heritage had argued the current buildings, clustered around Liverpool Street Station, were important examples of mid-eighties architecture which merited saving from the bulldozers. The company can now go ahead with its planned £850m redevelopment of the site on behalf of its tenant, the Swiss financial services group UBS. Sector peer Land Securities is also higher.Meanwhile, the metals and mining sector is lower. ENRC is unwanted after the Glencore dismissed rumours that it is working on a bid for the miner. Xstrata and Ferrexpo and also falling, tracking metals prices lower.---BCTop performing sectors so far todayElectronic & Electrical Equipment 3,258.50 +1.00%Health Care Equipment & Services 3,724.99 +0.56%Real Estate Investment Trusts 2,281.69 +0.32%Industrial Transportation 2,550.48 +0.23%Forestry & Paper 6,570.53 +0.16%Bottom performing sectors so far todayIndustrial Metals & Mining 7,212.75 -3.28%Automobiles & Parts 4,858.50 -1.75%Financial Services 5,785.03 -1.40%General Retailers 1,699.04 -1.26%Oil Equipment, Services & Distribution 25,132.45 -1.19%