Sector movers: Banking stocks dive, StanChart disappoints with trading update

UK banks were firmly out of favour on Wednesday afternoon, following a strong rise the day before, as the London market suffered a sell-off on the back of some gloomy economic data from the Eurozone and the US.Eurozone manufacturing took a hammering in April with Markit's purchasing managers' index (PMI) coming close to a three-year low, while the region's unemployment rate rose to its highest level in 15 years. Stocks were put under further pressure after US private-sector payrolls increased by just 119,000 last month, well below forecasts and the 200,000-average seen in the first quarter.Furthermore, a negative market reaction to Standard Chartered's first-quarter trading update dampened sentiment in the sector today. While the firm highlighted "high single digit income growth" in the first three months of 2012, it did reveal that some foreign exchange headwinds had a negative impact."Macroeconomic sentiment is showing signs of improvement, although there remain clear uncertainties and risks in the global environment," said the bank's Chief Executive Peter Sands. Lloyds was also a heavy faller, a day after the release of its first-quarter results. There were reports today that the company is about to slash its share of the UK mortgage market by three percentage points.Top performing sectors so far todayPersonal Goods 23,190.96 +1.84%Industrial Transportation 2,399.83 +1.45%Media 4,322.34 +0.21%Beverages 11,721.48 +0.15%Electricity 8,405.58 +0.10%Bottom performing sectors so far todayIndustrial Metals & Mining 3,826.20 -2.30%Banks 3,798.65 -2.19%Mining 20,626.60 -1.85%Aerospace and Defence 3,726.14 -1.38%Software & Computer Services 807.62 -1.35%BC