News

Sector movers: Vodafone still popular

12 November 2008 13:00:00

Vodafone is solely responsible for a big rise for Mobile Telecommunications after JP Morgan reacted to yesterday's update.

The broker repeated its 'overweight' stance on the telecoms giant, paying particular attention to plans for £1bn of cost cuts to offset price pressure in its core voice and messaging businesses.

Electricity found its spark, helped by Scottish & Southern Energy, which maintained its prediction of a "modest" increase in profit for the full year despite a 54% slump to £302.6m during the first half.

There's also hope that energy bills will fall early next year after Britain's second biggest energy company says it is "optimistic" domestic prices could be cut.

The firm, which has 8.9 million UK customers, said a reduction would depend on wholesale prices for electricity and gas maintaining "a downward trend".
Top performing sectors so far today
Mobile Telecommunications 2,826.27 +7.60%
Fixed Line Telecommunications 1,713.12 +3.62%
Tobacco 21,029.36 +2.95%
Electricity 6,771.87 +2.19%
Construction & Materials 2,969.44 +2.04%

Bottom performing sectors so far today
Forestry & Paper 2,270.06 -6.64%
Industrial Engineering 2,080.44 -5.82%
Automobiles & Parts 1,656.94 -4.55%
General Financial 3,835.36 -3.29%
Industrial Metals 1,507.94 -3.23%

All data suppied by Digital Look (15 minute delay)




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