BP Share News (BP.)

(ShareCast News) - Homebuilders and food processors were again at the top of the leaderboard on Wednesday, alongside interest rate-sensitive issues such as telecoms outfit Vodafone and utilities.Banks on the other hand retreated precisely due to the fall in benchmark Gilt yields.To take note of in that regards, speaking to Bloomberg TV, Steven Major, head of fixed income research at HSBC, debunked the myth that fiscal loosening drives bond yields higher.Benchmark 10-year US Treasury yields would end 2017 at 1.35% he forecast, echoing a research report published five days earlier, while those on similarly-dated Bunds would see the year out from 0.35%, albeit after a rise to 0.6% in the third quarter.The main catalyst for gains in homebuilders however was a positive note out of analysts at the same investment bank.Analysts at HSBC stuck to their 'buy' recommendations on all the UK housebuilding stocks under their coverage, as the government's housing white paper contains "few measures that would upset the expected delivery of homes" from the major developers, with Bellway and Bovis offering the most upside.In parallel, shares in Tate&Lyle advanced ahead of a trading update from the food ingredients manufacturer, with traders also waiting on an update from Dairy Crest.According to analyst Charles Pick at Numis, "there should be an absence of surprises" in Tate&Lyle's update.However, investors should "beware" the impact of gyrations in the Mexican peso, Pick said.Heading the other throughout much of the session, oil sector shares mimickied losses in crude futures on the heels of big builds in crude stockpiles in the States during the latest week, according to two different sets of data.Ironically, shares of BP outperformed the rest of the sector despite the decision by analysts at Canaccord Genuity, RBC, Credit Suisse and UBS to revised down their target prices for stock in the oil major.Nonetheless, the underlying view of Canaccord appeared to be a relatively positive one.Canaccord's Alex Brooks said: "One of BP's more attractive features has always been that it develops relatively short-life projects. The advantage of this approach is simple: it means a closer match between costs during the build (cash burn) phase, and revenues during the operational (free cash) phase. This helps to explain BP's more successful re-balancing of its cash flows in 2015/6 (compared with Shell, whose mismatch is acute), as well as active portfolio management."Miners BHP and Rio Tinto retreated in anticipation of the start of an indefinite strike at their Escondida copper mine, in Chile, the next day.Top performing sectors so far todayHousehold Goods & Home Construction 17,247.74 +2.51%Food Producers & Processors 7,661.01 +2.40%Mobile Telecommunications 4,398.76 +1.78%Gas, Water & Multiutilities 6,115.68 +1.76%Electricity 9,147.12 +1.63%Bottom performing sectors so far todayOil Equipment, Services & Distribution 15,554.61 -1.96%Industrial Engineering 10,959.37 -1.67%Oil & Gas Producers 7,858.76 -1.37%Mining 16,369.98 -1.28%Banks 4,315.30 -0.85%