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Sector movers: Domestic focused shares pace gains

Thu, 03rd Nov 2016 15:21

(ShareCast News) - Domestic-focused shares paced gains after the High Court ruled that Parliament must approve the Article 50 process.The news set off an immediate bounce in cable, which was 1.07% higher to 1.2434 as of 1540 which fed through into sectors such as general retailers and REITs.Yet there were also company and sector-specific news-flow to take into account.Analysts Geoff Ruddell and Amy Curry at Morgan Stanley upgraded their recommendation on shares of Dixons Carphone from 'underweight' to 'equal-weight' following the de-rating in the stock price to what it considers "much more appropriate levels".Nevertheless, they admitted that the reason for the same had been Brexit and not the longer-term structural pressures on its mobile business which it had envisaged.In parallel, Berenberg nudged its target for shares of Just Eat from 600p to 620p.Life insurers were also higher, bouncing alongside yields on longer-dated Gilts.Investors in Tate&Lyle were rewarded after the company released better-than-expected first-half profits before tax of £140.0m (consensus: £131.0m).In reported terms, PBT was up by an even bigger 37% thanks to an FX tailwind.To take note of, in relation to steel-maker Evraz, market commentary highlighted a report from Goldman Sachs linking recent strength in iron ore prices to the weak Chinese yuan.Miners were lower amid widespread price weakness in the metals space, with three-month copper futures flat on the LME at $4,920.00 per metric tonne as of 1610, while similarly-dated zinc was the worst performer, losing 1.6% to $2,426 a metric tonne.Profit-taking among precious metals also weighed on the PGM miners, with Centamin being a notable exception after Egypt shifted towards a more flexible exchange rate regime.Top performing sectors so far todayGeneral Retailers 2,584.64 +2.27%Real Estate Investment Trusts 2,786.13 +2.06%Real Estate Investment & Services 2,384.84 +1.79%Life Insurance 6,898.70 +1.22%Food Producers & Processors 7,893.36 +1.04%Bottom performing sectors so far todayIndustrial Metals & Mining 1,906.71 -5.10%Chemicals 12,246.37 -2.26%Beverages 16,504.71 -2.25%Technology Hardware & Equipment 915.19 -2.06%Mining 13,686.15 -1.67%
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UK BROKER RATINGS SUMMARY: HSBC Upgrades Both IAG And Ryanair To Buy

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12 Dec 2019 12:16

LONDON MARKET MIDDAY: Pound Dips As Traders Brace For UK Exit Poll

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12 Dec 2019 10:40

UK WINNERS & LOSERS SUMMARY: John Laing Slumps On Net Asset Downgrade

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12 Dec 2019 08:59

TOP NEWS: Dixons Carphone "On The Right Path" As Interim Loss Narrows

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12 Dec 2019 08:45

LONDON MARKET OPEN: Pound Firm But Rocky Day Seen Ahead As UK Votes

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12 Dec 2019 07:53

LONDON MARKET PRE-OPEN: Dixons Loss Narrows; PZ Cussons CEO Departs

LONDON MARKET PRE-OPEN: Dixons Loss Narrows; PZ Cussons CEO Departs

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12 Dec 2019 07:33

Dixons Carphone reiterates guidance despite profit tumble

(Sharecast News) - Dixons Carphone on Thursday reported a plunge in interim profit as mobile phone sales slumped, but still held full year guidance.

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5 Dec 2019 16:02

UK Earnings, Trading Statements Calendar - Next 7 Days

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29 Nov 2019 10:39

UK WINNERS & LOSERS SUMMARY: Ocado Jumps On Japan Platform Deal

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29 Nov 2019 09:40

ThinkSmart Shares Down On Legal Proceedings Against Carphone Warehouse

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6 Nov 2019 14:34

FTSE 250 movers: Wood Group falls, M&S rallies

(Sharecast News) - London's second-tier was 0.48% lower at 20,198.20 in afternoon trade on Wednesday, with John Wood Group leading the index lower.

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5 Nov 2019 13:25

RBC Capital downgrades Next, Dixons Carphone

(Sharecast News) - RBC Capital Markets downgraded its stance on shares of Next and Dixons Carphone on Tuesday as it took a look at the European general retail sector, highlighting a preference for companies showing "structural growth".

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5 Nov 2019 11:57

Tuesday broker round-up

(Sharecast News) - HSBC: Berenberg downgrades to sell with a target price of 490p.

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5 Nov 2019 10:38

UK WINNERS & LOSERS SUMMARY: AB Foods Rises As Primark Adds US Stores

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UK BROKER RATINGS SUMMARY: HSBC Raises Ryanair, Deutsche Bank Cuts

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