Sector movers: UK engineers, travel stocks lead gains

18th Jan 2017 16:19

(ShareCast News) - The incoming newsflow drove the price action, by sectors, on the leaderboard, with cyclical issues figuring large among the best and worst performers of the session.Shares in steel-maker Evraz advanced, alongside gains in Chinese rebar futures in overnight trading from $500.1 per metric tonne to $502.7 a tonne.That was despite the release of data in China which, according to analysts at SP Angel, revealed that the cycle of property price increases had reversed, with growth in the country´s 70 major cities registering a slowdown in December for the first time since 2016.Spectris pulled the Electronic&Electrical equipment space higher after Morgan Stanley hiked its target price on the UK engineer from 2,540p to 2,780p, as the broker highlighted the company´s attractions as a 'play' on the Internet of Things and the discount it was then trading at in comparison to its sector peers.Helping to push Travel & Tourism higher, Investec upped its target price for JD Wetherspoon from 1,044p to 1,075p, while JP Morgan did the same with InterContinnetal Hotels, hiking its target from 2,975p to 3,260p.In the same note, JP Morgan also upped its target on InterContinental from 1,600p to 1,685p.Leading the fallers, education publisher Pearson cratered after it cut its guidance for 2017 and removed it entirely for 2018 on account of falling revenues in North America.Oil services firms were also headed lower after IEA chief Fatih Birol reportedly predicted a "strong" supply response from US shale oil producers at then current oil price levels.Top performing sectors so far todayIndustrial Metals & Mining 2,299.05 +4.73%Electronic & Electrical Equipment 5,207.75 +1.52%Personal Goods 30,211.27 +1.29%Forestry & Paper 18,957.59 +1.27%Tobacco 53,033.03 +1.06%Bottom performing sectors so far todayMedia 7,696.29 -2.57%Software & Computer Services 1,875.01 -1.43%Fixed Line Telecommunications 4,326.10 -0.73%Life Insurance 7,708.26 -0.68%Oil Equipment, Services & Distribution 16,438.26 -0.67%