Sector movers: Tech and mining stocks rally

22nd May 2014 15:34

Technology stocks edged higher as Imagination Technologies agreed two deals to strengthen its MIPS architecture into a more serious competitor for ARM.The FTSE 250 company announced a collaboration with US technology giant Oracle to enhance Java computer programming language for embedded applications and the Internet of Things, and has also jointly created a new open-source foundation called 'prpl' to support MIPS.Mining stocks were also higher as the price of gold, silver and copper gained.Oil and gas producers were lead lower by Royal Dutch Shell after the company cancelled its popular scrip dividend programme from the current quarter. Pharmaceuticals and biotechnology shares were dragged down by AstraZeneca as its largest shareholder ratcheted up the pressure on its board to engage with Pfizer over a possible sale.Top performing sectors so far todayTechnology Hardware & Equipment 1,067.34 +2.26%Industrial Metals & Mining 1,215.29 +2.00%Beverages 14,629.28 +1.79%Health Care Equipment & Services 5,317.56 +1.57%Tobacco 40,586.93 +1.31%Bottom performing sectors so far todayIndustrial Transportation 3,061.56 -5.27%Electricity 9,681.95 -0.87%Oil & Gas Producers 8,616.67 -0.79%Pharmaceuticals & Biotechnology 12,800.47 -0.78%Food Producers & Processors 7,876.01 -0.61%RD