Sector movers: Reckitt rumours refuse to vanish

5th Jul 2011 16:25

Reckitt Benckiser, the maker of brands as diverse as Cillit Bang, Durex and Nurofen headache tablets, is being pushed higher on persistent rumours it's being lined up for a takeover.The bid speculation makes Reckitt the best performer in the Household Goods sector for the second day in succession, but the rumours would have more plausibility if the speculators could agree on who the predator is; some say US giant Procter & Gamble is considering a bid, other says Reckitt's Anglo-Dutch rival Unilever.There are some chunky losses among precious metals extractors today, dragging down the whole mining sector, though the big names of the sector hold up well, including ENRC, which edges higher after positive coverage from Credit Suisse.Credit Suisse estimates that markets are now implicitly not assigning any value to ENRC´s international assets and growth prospects. Thus, they explain that their 'base case net present value (NPV)' for ENRC is £11.70 per share with the Kazakh assets alone worth £10.80 a share. Their mid-cycle valuation is £11.10 a share, implying little growth potential is being priced in.Top performing sectors so far todayHousehold Goods & Home Construction 6,943.24 +2.18%General Retailers 1,731.69 +1.51%Fixed Line Telecommunications 2,459.80 +1.50%Chemicals 7,819.61 +1.21%Real Estate Investment & Services 1,786.19 +1.18%Bottom performing sectors so far todayTechnology Hardware & Equipment 771.57 -1.03%Banks 4,446.69 -0.75%Mining 26,184.03 -0.74%Industrial Transportation 2,665.16 -0.31%Oil Equipment, Services & Distribution 25,810.12 -0.29%--jh