Sector movers: Retailers mixed after festive updates

13th Jan 2011 15:32

General retailers are performing well Thursday led by computer games specialist GAME. Shares are on the rise as it retained its guidance over full year profits, despite revealing a 4.1% decline in Christmas sales. Group sales for the 49 weeks to 8 January declined by 7.7%, with sales in the UK and Ireland losing 12.3%.Also higher is Argos and Homebase owner Home Retail Group after saying it expects full-year pre-tax profits to come in at the mid-point of its previously guided range of £250m to £275m after both of its brands performed in line with expectations.The food and drug retailers, however, are the worst performing sector with supermarket giant Tesco making losses. Tesco lagged well behind rivals over Christmas, blaming much weaker than expected like for like sales growth on December's miserable weather.Top performing sectors so far todayIndustrial Metals & Mining 8,610.26 +0.79%Forestry & Paper 5,644.19 +0.67%Life Insurance 4,279.45 +0.54%General Retailers 1,739.09 +0.46%Insurance (non-life) 1,542.33 +0.43%Bottom performing sectors so far todayFood & Drug Retailers 4,735.02 -3.04%Automobiles & Parts 5,270.00 -2.38%Tobacco 27,292.62 -2.30%Oil Equipment, Services & Distribution 25,422.03 -1.58%Chemicals 7,053.69 -1.43%