Sector movers: Industrials rise, tobacco burns lower
Industrial metals again led the way as Russian steelmaker Evraz continued to be buffeted by the White House policies, while auto parts were lifted by GKN.
Evraz was the standout gainer on the FTSE 100 after US President Trump's surprise move to decide to hold off on imposing additional sanctions on Russia for support of the Assad regime in Syria. White House press secretary Sarah Huckabee Sanders said: "the president has been clear that he’s going to be tough on Russia, but at the same time he’d still like to have a good relationship with them."
Automobile parts maker GKN gained as the last remaining shareholders relinquished to Melrose Industries, which said its takeover offer for the engineer will be declared wholly unconditional later this week after receiving acceptances over more than 81% of the engineer's shares.
Tobacco makers Imperial Brands and British American Tobacco were hit as the pound this week reached its highest level since the Brexit referendum ahead of the pair's results next week. The two had made hay in 2017, however, as the weak pound had boosted their US earnings.
Top performing sectors so far today
Industrial Metals & Mining +5.79%
Automobiles & Parts +4.06%
Food Producers & Processors +2.34%
Software & Computer Services +1.96%
Leisure Goods +1.86%
Bottom performing sectors so far today
Tobacco -1.79%
Household Goods & Home Construction -1.30%
Aerospace and Defence -0.47%
Beverages -0.30%
Mobile Telecommunications -0.01%