| CATEGORY: SECTOR REVIEW SECTOR: FOOD PRODUCTS |
Sector movers: Ferrero reports sweeten Cadbury |
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Fri 20 Nov 2009
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LONDON (SHARECAST) - Food producers are going well, including Dairy Milk chocolate maker Cadbury, which is given a lift by reports that Italy’s Ferrero may be interested in taking on its gum and sweet units as part of a joint takeover with US sweet maker Hershey.
Ferrero, the maker of Ferrero Rocher chocolates, is thought to have €2bn in cash available for the offer.
Other risers from the sector today include cash and carry group Booker and snacks firm Glisten.
Engel East Europe, which develops flats, offices and other properties in the region, is leading the real estate lower after saying its cash position deteriorated over the third quarter due to delays in sales and projects in the Czech Republic, Poland, Serbia and Bulgaria.
‘Although the Directors are hopeful that these financial difficulties will be resolved by the end of the first quarter of 2010, they consider that [the delays] indicate the existence of a material uncertainty which may cast significant doubt on the company's ability to continue as a going concern,’ it said.
Top performing sectors so far today
Chemicals 4,539.67 +0.92%
Food Producers & Processors 4,647.69 +0.77%
Industrial Metals 4,788.98 +0.75%
Life Insurance 3,947.30 +0.68%
Forestry & Paper 3,535.16 +0.58%
Bottom performing sectors so far today
Automobiles & Parts 2,534.46 -2.52%
Real Estate 2,053.16 -2.35%
Industrial Transportation 1,960.13 -2.32%
Construction & Materials 3,357.26 -2.09%
Technology Hardware & Equipment 330.18 -1.33%
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