Sector movers: Miners pace gains after endorsement from BofA

Steel producers and miners led to the upside following the release of what several economists dubbed as a "solid" US jobs report, receiving an additional lift in the form of a positive research note on the sector out of analysts at Bank of America-Merrill Lynch.

As of 1817 BST, December 2016 copper futures on COMEX were up by 0.35% to $2.1630 per pound, alongside slight gains for gold and silver futures.

Intriguingly, the US dollar index on the other hand was barely changed, drifting down by 0.11% to 96.66 even as Fed funds futures moved to price-in a slightly greater than 70% chance of a 25 basis point interest rate from the US Federal Reserve come its 14 December policy meeting.

Bank of America Merrill Lynch said the shares of Randgold, Anglo American, BHP Billiton and Glencore were among its key ‘buy’ recommendations. The broker also upgraded its price assumptions for the metals and mining sector in zinc, nickel and coal.

Oil&Gas producers also advanced, despite some profit-taking in crude oil futures.

On the downside were the usual suspects in sessions when the pound weakened significantly, such as retailers and real estate investment trusts.

Utilities were also down, taking a hit from the ten basis point advance in 10-year Gilt yields.

Top performing sectors so far today
Industrial Metals & Mining 1,949.06 +6.97%
Mining 13,129.54 +2.83%
Oil & Gas Producers 7,916.66 +2.30%
Oil Equipment, Services & Distribution 16,758.07 +2.19%
Electronic & Electrical Equipment 5,408.56 +2.10%

Bottom performing sectors so far today
General Retailers 2,516.84 -2.81%
Technology Hardware & Equipment 2,127.25 -2.38%
Gas, Water & Multiutilities 6,305.77 -1.68%
Real Estate Investment Trusts 2,783.34 -1.63%
Food & Drug Retailers 2,981.37 -1.54%