Sector movers: Oil services firms slip as profits slide

Oil equipment and services stocks are lower after two companies reminded the market how tough times are in the sector.John Wood saw profits slide in the half-year as the tough market conditions hit exploration and production (E&P) spending worldwide.UAE-focused oil and gas engineering services group Lamprell posted a sharp fall in profits for the first half of 2009 as oil firms cut back on activity to cope with the sharp fall in crude prices.Antofagasta is one of the heaviest fallers in the mining sector. The copper producer posted a sharp slide in pre-tax profits as metals prices slid.Aquarius Platinum is also helping weigh down the sector after saying a strike in South Africa could lead to mass dismissals of miners, resulting in reduced prices for the precious metal. Instrumentation and controls group Spectrix continues rising, helping to lift the electronic & electronic equipment sector higher after yesterday saying it expects to see an improved performance in the second half due to restructuring and integration actions and better market trends.Top performing sectors so far todayBeverages 7,061.85 +2.01%Food & Drug Retailers 4,347.15 +0.84%Electronic & Electrical Equipment 1,422.45 +0.82%Construction & Materials 3,724.90 +0.73%Pharmaceuticals & Biotechnology 8,337.98 +0.73%Bottom performing sectors so far todayAutomobiles & Parts 2,656.04 -2.57%Oil Equipment Services & Distribution 14,715.40 -1.93%General Industrials 1,872.21 -1.88%Forestry & Paper 3,135.54 -1.79%Mining 16,444.90 -1.71%