News

Sector movers: British American drags tobacco down

30 October 2008 10:32:00

Tobacco stocks are more sold than bought despite Lucky Strike firm British American posting a rise in profits and saying it has not seen any impact from the tough economic conditions. The stock is sharply up on the week though.

"The impact of any consumer downturn on our business should be mitigated by our balanced and innovative brand portfolio covering all consumer price points," chairman Jan du Plessis said.

Imperial Tobacco, the Bristol-based firm behind Gauloises cigarettes, is higher though, building on previous days' gains.

Insurance stocks are lower after Standard Life said it produced a solid performance in the first nine months of 2008, despite the market turbulence, but warned markets remain difficult.

Aerospace and defence stocks are flying high after engine maker Rolls-Royce said current trading remains in line with market expectations, while the order book has continued to grow with a further £5bn of new orders received since 30 June.

Rolls is up 9%, just behind the maker of James Bond-style gadgets QinetiQ.

Top performing sectors so far today
Industrial Metals 1,572.35 +11.47%
Oil Equipment Services & Distribution 9,144.64 +9.62%
Aerospace and Defence 2,441.31 +7.79%
Automobiles & Parts 1,925.20 +6.09%
Mining 11,445.92 +5.57%

Bottom performing sectors so far today
Insurance (non-life) 1,171.48 -2.95%
Tobacco 21,566.31 -1.71%
Mobile Telecommunications 2,722.59 -0.49%
Health Care Equipment & Services 2,905.12 -0.39%
Oil & Gas Producers 6,738.28 -0.18%

All data suppied by Digital Look (15 minute delay)




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