Sector movers: Standard Chartered lifts banks

9th Dec 2009 11:05

Asia-focused Standard Chartered gives the banking sector a lift after saying it remains on course for a record year with a strong performance in wholesale banking offsetting lower income in consumer banking, while its exposure to Dubai is not 'material'."With regard to recent developments in the United Arab Emirates, the situation remains in its early stages and is fluid. However, given the profile of our exposures in Dubai, we do not believe any impairment would be material," it said.RBS, which has been under the cosh lately, is another riser in the sector.Elsewhere in finance, general financial stocks are lower even with good gains from the spread-betting firm IG Group, which expects to report revenue of around £143m (2009: £126.5m) and adjusted profit before tax of around £77m (2009: £58.2m) for the first half of the year, but said costs will be higher in the second half.Top performing sectors so far todayBanks 4,741.24 +1.17%Automobiles & Parts 2,555.51 +1.11%Technology Hardware & Equipment 338.38 +0.82%Personal Goods 10,371.82 +0.68%Fixed Line Telecommunications 1,991.70 +0.52%Bottom performing sectors so far todayIndustrial Metals 4,752.74 -1.99%Oil Equipment Services & Distribution 14,807.33 -1.19%General Financial 4,997.53 -1.15%Food & Drug Retailers 4,720.58 -1.14%Software & Computer Services 562.12 -0.94%