Sector Movers: Miners Surge, Tobacco Fades

Source from:  Tue 06 Mar 2007 LONDON (SHARECAST) 03/08/2007

The mining sector rallied as shares in heavyweight Xstrata charged ahead. The mining goliath beat forecasts with a 119% rise in underlying profits last year, aided by strong copper and nickel prices. Net profit soared to $4.89bn, including a full year from acquisitions, compared with forecasts of $4.6bn. The outlook for metal prices remains positive, the group said. Rivals Rio Tinto, BHP Billiton and Antofagasta also gained. Tobacco fell sharply, letting go of last week's gains, as traders took profit on shares like British American Tobacco. Last week the cigarette maker said pre-tax profit rose 8% with Asia-Pacific, Latin America, Africa and Middle East leading the rise. Automobiles & Parts was bolstered by shares of General Motors in Europe. Pharmaceuticals remained lower despite gains for sector giant Novartis after US regulators approved its new blood pressure treatment. Top performing sectors so far today Technology Hardware & Equipment 289.50 +2.22% Mining 15,600.60 +1.98% Automobiles & Parts 5,724.30 +1.97% Health Care Equipment & Services 3,539.90 +1.42% Oil Equipment Services & Distribution 11,125.00 +1.35% Bottom performing sectors so far today Household Goods 8,136.80 -0.91% Tobacco 20,716.60 -0.41% Food & Drug Retailers 4,924.60 -0.29% Aeronautics and Defence NULL 0.00% Alternative Investment Instruments NULL 0.00% Enditem