Sector movers: Transport stocks fall as BBA Aviation's Q3 disappoints

14th Nov 2013 14:22

BBA Aviation was weighing on the industrial transportation sector on Thursday after a disappointing third-quarter update.The aviation support and aftermarket services provider said that business and general aviation (B&GA) movements in Europe and commercial movements in both North America and Europe all declined by 1% in the third quarter and for the year were marginally worse than anticipated.As such, the FTSE 250 firm said that trading in the third quarter was "marginally softer" than expected, but said the fourth quarter was off to a decent start.Shares were trading 4.31% lower at 320p by the close of trade.Goldenport Holdings, the international shipping company, was also trading in the red, extending losses after announcing last week that it would be transferring from a 'premium' to 'standard' listing in London. The company said on November 6th that it needs a "greater degree of regulatory flexibility" to help implement a number of "potential strategic initiatives" more efficiently and cost effectively. The transfer will be voted on next month by shareholders.The stock was down 3.9% at 39.88p in afternoon trade.Wincanton, the supply chain solutions firm, was also out of favour today, one week after announcing a 1.6% fall in revenues in its first half.Top performing sectors so far todayElectronic & Electrical Equipment 4,173.28 +1.83%Personal Goods 23,891.03 +1.68%Aerospace and Defence 5,333.47 +1.58%Construction & Materials 4,380.88 +1.44%Media 6,293.64 +1.44%Bottom performing sectors so far todayIndustrial Transportation 3,188.79 -3.16%Forestry & Paper 10,690.57 -1.73%Food & Drug Retailers 4,647.51 -1.50%Gas, Water & Multiutilities 5,669.38 -1.33%Travel & Leisure 6,747.30 -0.06%BC