Sector movers: Basic resource stocks rise after strong US jobs report

Basic resource stocks, such as those in the mining, oil and gas sectors, rose on Friday, with sentiment boosted by a much better-than-expected US employment report, as an improved outlook for the world's largest economy increased hopes over demand.The Bureau of Labor Statistics reported that the US economy added 288,000 jobs in April, much more than analysts had predicted, while the jobless rate unexpectedly dropped to a five-and-a-half-year low of 6.3%."The unusually severe winter weather may have hit activity and employment in January and February, but the economy is making up for that now," said Paul Ashworth, Chief US Economist at Capital Economics.He said that the report underlined why the markets and the Federal Reserve were so "unconcerned" by the near-stagnation in first-quarter economic growth, as revealed by figures out on Wednesday.BHP Billiton, one of the world's largest mining groups, was among the best performing stocks in London this afternoon registering gains of 1.9%, along with Randgold Resources and Glencore Xstrata.Polymetal, Rio Tinto and Anglo American were also on the rise.Even Vedanta was higher despite saying that the Interim Chief Executive of its subsidiary Cairn India has stepped down "for personal reasons".In the oil sector, Tullow, Shell and BP were all performing well, extending gains made earlier in the week after each company impressed with their quarterly results.Top performing sectors so far todayReal Estate Investment & Services 2,767.70 +1.59%Mining 16,924.42 +1.44%Oil Equipment, Services & Distribution 25,589.17 +1.27%Industrial Metals & Mining 1,212.75 +1.11%Mobile Telecommunications 5,011.40 +1.08%Bottom performing sectors so far todayTobacco 38,531.28 -0.98%Food Producers & Processors 7,698.15 -0.87%Forestry & Paper 10,496.69 -0.81%General Industrials 4,268.61 -0.63%Automobiles & Parts 8,994.54 -0.59%BC