Sector movers: Tate & Lyle sweetens food sector

1st Jun 2011 14:38

The food producing sector is sweeter, helped by gains from sugar producer and food ingredients firm Tate & Lyle.Yesterday, the group had its target price raised by 8% by UBS. Tate & Lyle announced last week that it managed to offset reduced selling prices for its SPLENDA Sucralose brand to grow sales by 7% in the year ended 31 March, while profits surged. Vodafone went ex-dividend today, pushing shares lower and providing a drag in the mobile telecommunications sector.---BCTop performing sectors so far todayFood Producers & Processors 5,370.26 +1.30%Automobiles & Parts 5,185.83 +1.28%Health Care Equipment & Services 3,847.64 +1.23%Forestry & Paper 6,662.09 +1.14%Industrial Metals & Mining 7,892.99 +1.09%Bottom performing sectors so far todayMobile Telecommunications 3,726.45 -3.45%Gas, Water & Multiutilities 4,646.07 -1.43%Industrial Transportation 2,615.30 -1.13%Construction & Materials 3,902.86 -1.09%Banks 4,520.85 -0.88%