Sector movers: Miners decline and defensives gain
There clearest sector pictures on Friday were declines of miners and gains for defensive stocks.
The leisure sector was down as its single FTSE 350 representative, Games Workshop said it expects sales for the year to be around £219m, with a pre-tax profit at least £74m versus £38.4m the prior year.
Analysts at Peel Hunt said the profits were in line with its expectations, with sales slightly ahead of forecast, helped by a stronger than expected £10m of royalties. "The positive momentum has continued through H2, however the comparators over the next three months are very tough given the strong of the 40k launch last summer," they said, adding that after a strong run, the shares "feel toppy".
Industrial metals were down as volatile Evraz fell while Ferrexpo rose, while large mining stocks were prominent among the declines amid a stronger dollar and the week's copper gains starting to unwind despite the continued fears of a strike at Escondida, the world’s largest mine. Antofagasta, Glencore and Anglo American were among the top fallers, topped off by precious metals miner Fresnillo.
Household Goods & Home Construction was the top sector, with almost all housebuilders in the green on Friday.
Results are due from house builder Crest Nicholson and Bellway next Tuesday.
Fixed line telecoms was lifted as BT's axeing of CEO Gavin Patterson was taken well by shareholders.
Top performing sectors so far today
Household Goods & Home Construction 16,894.55 +1.33%
Fixed Line Telecommunications 2,378.94 +0.93%
Beverages 21,802.28 +0.91%
Food Producers & Processors 7,892.31 +0.91%
Chemicals 16,496.13 +0.69%
Bottom performing sectors so far today
Leisure Goods 7,120.87 -6.39%
Industrial Metals & Mining 4,750.08 -1.96%
Mining 19,918.36 -1.52%
Industrial Transportation 3,324.02 -1.21%
Oil Equipment, Services & Distribution 13,692.92 -1.14%