Sector movers: WPP weighs on media sector

2nd Jun 2009 14:04

Advertising giant WPP is helping drag the media sector lower after another downbeat update. It said like-for-like sales in the first four month of the year dropped 6.7% after trading worsened in April.Not all media stocks are lower though. Marketing communications company Mission Marketing is higher after it said current trading is in line with expectations and it remains well positioned in the markets in which it operates.Among newspaper publishers, Independent News & Media and Daily Mail and General Trust are lower after a downbeat note from Citigroup yesterday.The personal goods sector is higher, mainly due to a good performance from ultra-chic fashion group Burberry. But shares in The Core Business have plummeted after the beauty products supplier said losses will be lower than the last two year due to sterling's weakness and it may not be able to continue "in its current form" if it requires more capital.Top performing sectors so far todayAutomobiles & Parts 2,083.00 +1.93%Personal Goods 7,298.70 +1.66%General Retailers 1,411.86 +1.58%Electronic & Electrical Equipment 1,209.86 +1.40%Technology Hardware & Equipment 249.77 +0.73%Bottom performing sectors so far todayIndustrial Metals 4,337.26 -6.03%Banks 3,937.86 -4.38%Construction & Materials 3,572.55 -2.88%Media 2,683.76 -2.19%Pharmaceuticals & Biotechnology 7,169.81 -1.84%