Sector movers: Drug sector off colour

The pharmaceuticals sector fell back after AstraZeneca posted a 10% rise in fourth quarter earnings, but predicted 2010 revenues would be hit by the loss of exclusive rights to sell certain drugs.The company is also planning to cut 8,000 jobs from its global workforce of 63,000.While Astra falls back sector tiddler ReNeuron group climbed after the stem cell developer said Phase 1 trials for its ReN001 stroke treatment should be given the green light soon following a favourable response to data provided to the UK Gene Therapy Advisory Committee.Banks have rebounded after a recent sell-off following President Obama's planned back reforms. A number of senior figures slammed the proposals yesterday and noises out of Europe suggest they have not gone down well with governments here either. Barclays and Royal Bank of Scotland are higher.Top performing sectors so far todayTechnology Hardware & Equipment 387.67 +2.45%Banks 4,603.01 +2.12%Life Insurance 3,768.92 +1.76%Industrial Metals 4,799.28 +1.74%Automobiles & Parts 2,756.58 +1.55%Bottom performing sectors so far todayPharmaceuticals & Biotechnology 8,699.74 -1.10%Industrial Transportation 1,970.48 -0.47%Construction & Materials 3,361.98 -0.41%Tobacco 25,447.80 -0.39%