Torotrak PLC Share News (TRK)

The automobiles and parts sector is accelerating higher despite a mixed report from the Society of Motor Manufacturers and Traders (SMMT).Car sales slowed sharply in the second half of 2010 and remain under pressure but should pick up in the last six months of this year. While car sales rose by 1.8% from the previous year to 2.03m in 2010, the end of the Scrappage Incentive Scheme, which subsidised new purchases, in March helped bring about a slowdown in sales. December registrations were down by 18% to 123,817 units. "Economic conditions remain extremely challenging, but industry expects demand to strengthen in the second half of the year," said SMMT chief executive Paul Everitt. The SMMT expects car sales to decline by 5% to 1.93m units in 2011.Shares in gearbox designer Torotrak were given an extra lift after it reported that its outdoor power equipment joint venture with US group MTD has been replaced with new licensing arrangements, including an additional $1.6m (£1m) in payments to Torotrak.Technology hardware and equipment stocks edge lower after a good day yesterday. E-learning group Promethean World is the hardest hit Friday following by Bluetooth chip specialist, CSR.Top performing sectors so far todayAutomobiles & Parts 5,412.62 +5.23%General Retailers 1,766.55 +1.09%Industrial Metals & Mining 8,457.33 +0.97%Alternative Energy 3,991.19 +0.93%Personal Goods 19,343.98 +0.80%Bottom performing sectors so far todayTechnology Hardware & Equipment 651.41 -2.76%Tobacco 28,354.21 -1.67%Health Care Equipment & Services 3,684.83 -1.38%Insurance (non-life) 1,548.78 -1.09%Household Goods & Home Construction 6,607.44 -0.76%