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Sector movers: Astra lifts drug stocks after broker boost

Wed, 08th Jul 2009 13:44

Pharmaceutical stocks are higher after the broker Panmure Gordon said AstraZeneca was set to benefit from US rivals that produce generic alternatives to its cancer drug Casodex being too slow off the mark.AstraZeneca's slight rise is not as impressive as that of stem cell therapy developer ReNeuron, which has published clinical data on its lead CTX neural stem cell line in stroke and neurodegenerative diseases.Hamworthy is one of the stocks dragging the general industrials sector into the red. The LNG engineer is to acquire the business and assets of the technology & products division of Aibel, the Norwegian oil services company for £3.5m payable upon completion with an additional amount of up to £2.7m.Engineer Tomkins is the heaviest faller in the sector. Can maker Rexam, which has been in volatile mood lately, is in the red today.Top performing sectors so far todayPharmaceuticals & Biotechnology 7,615.82 +0.97%Mobile Telecommunications 2,663.20 +0.89%Construction & Materials 3,196.20 +0.65%Personal Goods 7,600.08 +0.59%Food & Drug Retailers 4,070.38 +0.40%Bottom performing sectors so far todayAutomobiles & Parts 1,817.85 -3.72%Life Insurance 2,756.68 -2.72%General Industrials 1,586.75 -2.63%Real Estate 1,474.49 -2.41%Industrial Metals 3,666.98 -2.14%

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