News

Sector movers: Fortunes reversed as oil rally fizzles

22 August 2008 11:48:00

With the oil price coming back a little amid concerns that the recent partial rally has been overdone, transportation stocks are higher but oil stocks have eased.

Aircraft services company BBA Aviation, which depends on lower fuel prices to keep the airline sector buoyant, is up more than 5%. Shipping and transport firm Irish Continental Group is also going well, as is logistics group Interbulk.

FTSE 100 oil companies such as BP, Cairn Energy and Tullow Oil follow the crude price lower. In the oil equipment services and distribution sector, Bateman Litwin and Wellstream Holdings are lower.

However, another company that provides services to oil firms, engineering design software group Aveva, is doing well after JPM started coverage on the company with an 'overweight' rating, saying it would prosper as long as crude stays above $70 a barrel.

Top performing sectors so far today
Industrial Transportation 2,374.30 +3.26%
Insurance (non-life) 1,211.50 +2.90%
Life Insurance 3,975.90 +2.84%
Personal Goods 7,488.70 +2.75%
Real Estate 2,864.90 +2.56%

Bottom performing sectors so far today
Oil Equipment Services & Distribution 16,499.70 -0.56%
Oil & Gas Producers 7,626.50 -0.22%
Tobacco 22,326.30 -0.09%

All data suppied by Digital Look (15 minute delay)




Risk Warning

There is an extra risk of losing money when shares are bought in some smaller companies including 'Penny Shares'. There is a big difference between the buying price and the selling price of these shares. If they have to be sold immediately, you may get back much less than you paid for them or you may have difficulty in selling them. Past performance is not a reliable indicator of future results. The price may change quickly and it may go down as well as up. You could lose every penny put into a particular share.

The information contained above has been compiled from documented sources which are believed to be reliable but, due to their very nature, are subject to a degree of historical inaccuracy and have not been independently verified and cannot be guaranteed. The pages on this website are provided for information only. City Equities Limited will not accept responsibility for loss incurred by any person or body acting, or refraining from acting, as a result of information and/or opinions given anywhere on this website. Issued by City Equities Limited, Aldermary House, 10-15 Queen Street, London, EC4N 1TY. Registered in England. Registered No. 2742847. Registered Address: Amwell House, 19 Amwell Street, Hoddeson, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.