Sector movers: Redstone rescue fails to lift tech stocks

17th Sep 2009 12:12

Redstone, the heavily indebted IT and telecoms group, has secured up to £6m in new funding and renegotiated some of its debt facilities.The company's share price is up by 10% on the news , but overall, technology hardware & equipment is one of the worst performing sectors.It is dragged lower by Regenersis, which yesterday said it saw revenue slide in the year to end-June as the consumer markets the company serves saw a slow-down in spending.Electronic & electrical equipment stocks are going well though, including antenna supplier Kenetics, which yesterday posted a rise in revenues amid rising demand for wireless technology.Top performing sectors so far todayElectronic & Electrical Equipment 1,563.44 +2.47%General Industrials 2,065.94 +1.85%Beverages 7,164.05 +1.73%Automobiles & Parts 2,772.95 +1.63%Oil Equipment Services & Distribution 16,147.10 +1.60%Bottom performing sectors so far todayTechnology Hardware & Equipment 316.04 -0.41%Food & Drug Retailers 4,517.87 -0.19%Software & Computer Services 565.47 -0.13%Insurance (non-life) 1,327.28 -0.10%