Sector movers: Defensive stocks gain as markets retreat

Most defensive stocks were performing well on Thursday as more cyclical sectors bore the brunt of profit-taking after markets rose to a two-week high the previous session.Heightened geopolitical tensions in Crimea were pulling the FTSE 100 back from its highest closing level since March 12th after US President Barack Obama said he would impose "deeper sanctions" on Russia if there are "further incursions into Ukraine".Markets "remained nervous" after Obama's comments, according to Spreadex Financial Sales Trader Lee Mumford. "Investors took this opportunity to take some risk of the table, sending markets lower," he said.Defensives sectors, such as beverages, food and telecoms, are those which have a low correlation to economic activity and generally perform well in times of market volatility.Drinks companies such as SABMiller and Diageo were making gains, helping the beverages sector to the top of the pile in afternoon trade.Stock Spirits, the Europe-focused spirits producer which floated in London last year, was also in demand after impressing investors with its maiden results as it reported a 22% increase in adjusted annual operating profits in 2013.Telecoms giant BT and food, ingredients and retail group Associated British Foods were also lifting their respective sectors higher.Top performing sectors so far todayBeverages 13,700.30 +1.01%Industrial Transportation 3,312.37 +0.56%Fixed Line Telecommunications 4,430.93 +0.55%Real Estate Investment & Services 2,926.31 +0.53%Food Producers & Processors 7,408.38 +0.36%Bottom performing sectors so far todayForestry & Paper 11,288.38 -2.69%Electricity 9,707.93 -2.07%Mobile Telecommunications 4,920.00 -1.84%Oil Equipment, Services & Distribution 24,204.26 -1.23%Software & Computer Services 1,198.28 -1.03%BC