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Sector movers: Smith & Nephew bolsters heath care sector

Thu, 05th May 2011 16:06

Medical devices firm Smith & Nephew is propping up the heath care equipment and services sector, after a strong first quarter performance.Revenues during the three months ended 2 April rose to $1.06bn, from $995m the year before, boosted by progress at its US knee franchise. Few seemed to be disappointed that trading profit fell from $250m to $241m after it incurred higher admin expenses.Meanwhile, the banking sector is near the bottom of the pile, as blue chip lenders pressure stocks lower.Lloyds has taken a hit after its first quarter profits fell sharply as the bank took an impairment charge that was half a billion pounds large than it was expecting. RBS and Barclays have also fallen back.---BCTop performing sectors so far todayHealth Care Equipment & Services 3,815.68 +2.86%Technology Hardware & Equipment 753.84 +1.98%Forestry & Paper 6,408.96 +1.28%Tobacco 31,135.92 +0.92%Beverages 9,608.02 +0.57%Bottom performing sectors so far todayIndustrial Metals & Mining 8,062.31 -3.54%Financial Services 5,981.11 -2.45%Banks 4,588.89 -1.98%Mining 25,241.04 -1.63%Oil & Gas Producers 8,447.20 -1.56%

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