Cyclicals were clearly in demand on Thursday, with Industrial Metals&Mining and Mining towards the top of the leaderboard as the US dollar gave back some of its recent ill-gotten gains and the start of the Lunar New Year holidays saw some Asian sellers come out of base metals markets for a time.
Industrial metals topped the leaderboard, alongside a solid performance from most mining names.
Like the day before, it was some of the more defensive issues in the market that bore the brunt of selling despite the rout in equities worldwide, with recent slight shifts in expectations for policy tightening by the Federal Reserve in 2018 apparently triggering a sharp rise in stockmarket volatility as government bonds markets in the US, and elsewhere, came under pressure.
AstraZeneca led the pharmaceuticals sector higher on a choppy day for the stock, as investors weighed up news of a US legal dispute with Array BioPharma against its full-year results.
Royal Mail was leading the industrial transportation sector higher, after it reached agreement with the Communications Workers Union regarding the company's ten-month-long dispute with the trade body over plans to replace its defined benefit pension scheme.
Chemicals were leading the charge into the green on the London bourse today, after Johnson Matthey announced the sale of its automotive battery systems business to US power company Cummins.
It was a miserable day on the London bourse, with only two sectors marginally in the black - electronics makers, and personal goods firms.
A strengthening of the dollar and higher copper prices saw mining stocks lead the sectors in afternoon trading on Monday.
On the upside on Friday afternoon were the two components of the industrial metals sector - Evraz and Ferrexpo.
Sector movers: Smith & Nephew leads health care charge, fresh research pours water on tobacco giants
Positive broker notes helped boost health care equipment plays on Thursday, as the FTSE 100 remained in the black with Smith & Nephew shares led the way.
Financial services were the top moving sector on the London bourse on Wednesday, led higher by LSE after Morgan Stanley said in an earnings preview that it sees upside surprise as we head into FY17 results on 2 March.
Some of the most defensive areas of the market came under pressure on Thursday, weighed down by a mix of negative company-specific news-flow and broker commentary, against a backdrop of rising Gilt yields.
Cyclicals and defensives were to be seen on both side of the ledger at the start of the week even as strategists at JP Morgan reiterated their positive view on global equities, especially on Financials.
Cyclicals are pacing gains, led by miners and aerospace and defence issues.
Cyclicals were clearly in the lead come Tuesday, against a backdrop of rising government bond yields worldwide.
A mixed bag of cyclicals and more defensive issues led to the downside at the start of the week, amid a smattering of company-specific news and a strengthening pound.
Broker commentary was the main driver behind the jump observed at the end of the week in utility and home construction stocks.