Sector movers: Banks move higher

Investors are bracing for results from banks RBS and Lloyds tomorrow and the following day respectively.Both stocks are higher, but the gains are modest.HSBC leads the sector higher amid reports the bank is expected to announce that its chief executive Michael Geoghegan not receive his 40% pay rise. On Monday, Lloyds Banking boss Eric Daniels bowed to public pressure and waived his right to a bonus this year, while the head of rival Royal Bank of Scotland also rejected a £1.6m reward.Chemicals and forestry & paper stocks were wanted yesterday after results from Croda and Mondi drove the respective sectors higher, but both stocks are lower today, as are the sectors.Top performing sectors so far todayTobacco 26,924.54 +0.51%Aerospace and Defence 3,194.80 +0.50%Mobile Telecommunications 3,255.64 +0.50%Fixed Line Telecommunications 1,732.68 +0.42%Banks 4,840.97 +0.41%Bottom performing sectors so far todayIndustrial Metals 5,204.86 -3.08%Household Goods 6,478.84 -1.87%Forestry & Paper 4,015.56 -1.77%Mining 20,644.53 -1.39%Chemicals 4,731.03 -1.09%