Sector movers: Charter pressures engineers lower

Engineering business Charter International saw shares plummet on Monday, dragging the industrial engineering sector lower.Shares were over a quarter lower after the group warned that figures for 2011 are expected to be below forecasts given in its last update in April as a mixed trading picture emerges. As such, Peel Hunt downgraded the stock to 'hold', from 'buy' saying, "While Howden continues to make progress, ESAB momentum has faded in recent months, and the combination of weakness in Europe, rising input prices and negative sales mix will hit this year's earnings." Metals and alloys treatment firm Bodycote is also lower despite signing a 10-year renewal agreement with Rolls-Royce.Telecommunications stocks were heading higher on Monday, with both the mobile and fixed line sectors being the best performing sectors of the day.Vodafone was providing a lift in the mobile category, while Carphone Warehouse was bolstering the fixed line sector.---BCTop performing sectors so far todayMobile Telecommunications 3,705.16 +1.65%Fixed Line Telecommunications 2,379.40 +0.72%Beverages 9,611.38 +0.48%Personal Goods 21,325.35 +0.24%Household Goods & Home Construction 6,513.26 +0.19%Bottom performing sectors so far todayIndustrial Engineering 6,930.79 -3.41%Industrial Metals & Mining 6,831.06 -3.18%Industrial Transportation 2,536.99 -3.01%General Industrials 3,014.15 -1.98%Financial Services 5,581.11 -1.82% Bodycote Vodafone