Sector movers: Vodafone leads telecoms sector higher

Vodafone led the telecoms sector higher on the back of growing speculation that US giant AT&T is plotting a takeover of the UK mobile company. Executives at AT&T were putting together plans for a possible takeover of the company next year, reported Bloomberg, citing people familiar with the situation. The report said the two companies hadn't started formal discussions yet, but AT&T was looking at which Vodafone assets it would keep hold of after a deal as well as a strategy for Vodafone's business in Europe. Oil and gas stocks were also higher, including Royal Dutch Shell which regained some of yesterday's heavy losses after the group said its earnings declined more than expected due to weaker refinery conditions, higher costs and lower volumes. On the downside, the aerospace and defence slumped, driven by Meggitt. The company, which specialises in aerospace equipment, lowered full year revenue guidance amid short-term production problems at one of its divisions. The FTSE 100 aerospace and defence manufacturer warned underlying trading in the last four months had been slightly below expectations and it now expected 2013 revenue growth rates to be in the "low single digits". It had given guidance of mid single digit revenue growth for the full year at its interims in August.Industrial metals and mining stocks including Randgold Resources and Antofagasta were lower as the prices of gold and silver fell on the COMEX. A disappointing UK manufacturing report also hurt the companies. The UK manufacturing purchasing managers index (PMI) slipped to 56 in October from a revised reading of 56.3 in September, missing the 56.4 forecast. A reading above 50 signals expansion.Top performing sectors so far todayMobile Telecommunications 5,378.10 +2.94%Oil & Gas Producers 8,105.35 +0.87%Automobiles & Parts 8,669.55 +0.79%Fixed Line Telecommunications 4,348.66 +0.75%Industrial Transportation 3,358.03 +0.74%Bottom performing sectors so far todayAerospace and Defence 5,180.12 -1.28%Industrial Metals & Mining 1,421.52 -1.19%Oil Equipment, Services & Distribution 24,809.13 -0.92%Food Producers & Processors 7,140.73 -0.89%Real Estate Investment Trusts 2,536.21 -0.84%RD