Sector movers: Telecoms updates impress

28th Jul 2011 16:10

BT and TalkTalk are both contributing to the fixed line telecommunications sector's gains today.BT reported today that its profits jumped by a fifth in the first quarter, as the phone and telecoms giant was able to achieve a majority market share in new broadband connections.Broadband provider TalkTalk added more customers in the first quarter and said it is experiencing less "churn" - customers moving to other operators. Total revenue was down to £423m from £444m in the same quarter the previous year, with the unusual pattern of holidays among the reasons for the decline, according to Talk Talk. The chemicals sector is lower after speciality chemicals group Croda International posted a 30% surge in half year profit, bolstered its dividend and expects to make further progress through the remainder of the year. Consumer Care and Industrial Specialities underpinned the robust profit and sales growth, Croda said. The results were also boosted after it passed on higher costs of raw materials to customers. Top performing sectors so far todayFixed Line Telecommunications 2,358.66 +3.43%Aerospace and Defence 3,311.59 +2.01%Household Goods & Home Construction 6,743.07 +1.30%Banks 4,213.04 +1.26%Pharmaceuticals & Biotechnology 9,722.20 +1.08%Bottom performing sectors so far todayForestry & Paper 6,532.83 -3.35%Electronic & Electrical Equipment 3,295.88 -1.86%Industrial Metals & Mining 7,141.63 -1.80%Chemicals 7,476.02 -1.68%