Sector Movers: Tobacco Stocks Defy Slump

Source from:  rds.yahoo.com LONDON (ShareCast) 09/28/2008

With most shares falling heavily as investors await progress on the $700bn bailout package in the US, tobacco is the only sector posting gains. Defensive favourites British American and Imperial are both in the blue, but only just. The lack of progress passing through the package has also weighed on the crude price, to the detriment of oil equipment services and distribution stocks. Crude oil for November (Frankfurt: A0S9N7 - news) delivery fell by nearly $4 a barrel to $104.25 on the New York Mercantile Exchange, as traders fretted that failure to bail out toxic mortgages would threaten growth in the US. Amec (LSE: AMEC.L - news) , Wellstream Holdings (LSE: WSM.L - news) and John Wood Group (LSE: WG.L - news) are all firmly in the red. Top performing sectors so far today Tobacco 23,325.28 +0.43% Bottom performing sectors so far today Automobiles & Parts 3,258.64 -7.61% Oil Equipment Services & Distribution 14,087.25 -4.02% Technology Hardware & Equipment 209.49 -3.88% Life Insurance (LINS.PK - news) 4,105.22 -3.87% Mining 16,799.18 -3.43%. Enditem