Sector movers: Builders mixed, real estate rises
Mobile telecoms and the pharma sector were two weights around the neck on Thursday, while most of the mid-sized housebuilders were down but not the larger players.
Vodafone shares were down a day ahead of its first-quarter trading update. The FTSE 100 group's South African business, Vodacom, also reported a slowdown in service revenue, with sales down 0.9%.
This comes a day after O2 and Vodafone agreed to strengthen their existing network sharing partnership. There were also reports that the pair are also exploring a multibillion-pound sale of their shared collection of mobile phone masts as part of preparations for the arrival of 5G technology.
Pharma stocks, led by Indivior and AstraZeneca, were down, wiping out the gains made at the end of last week.
The mixed day for the housebuilding sector saw FTSE 100 groups Persimmon, Taylor Wimpey, Barratt Developments and Berkeley were in all positive territory, while Bovis, Countryside and Crest Nicholson were in the red.
Countryside lost ground despite posting a trading statement in line with expectations, with a 28% increase in first-quarter completions, mostly thanks to a boost from affordable housing. Hitting Crest Nicholson was a downgrade to 'neutral' from 'buy' from analysts at Redburn.
Automobiles were up amid reports that the Chinese commerce ministry said that there would be in-depth talks between the two on economic and trade issues during Chinese Vice Premier Liu He’s US visit next week.
Real estate investment trusts and property services companies were almost all moving higher.
Results from property investment company Capital & Regional showed the portfolio's valuation fell by 4.5% in the second half to £855.3m, which was attributed to negative sentiment towards retail assets. Centres outside London saw a drop of 10.1%, while the group's three London assets saw their value rise by 1.1%, driven by income growth.
Investors also had access to data from the Royal Institution of Chartered Surveyors revealing that construction of new shops, offices and warehouses in Britain has come to a standstill for the first time in six years. The RICS survey found almost no growth in commercial and industrial construction work in the final quarter of last year.
Top performing sectors so far today
Automobiles & Parts 6,639.03 +1.44%
Real Estate Investment Trusts 2,803.23 +0.90%
General Retailers 2,118.25 +0.87%
Technology Hardware & Equipment 1,104.21 +0.72%
Food Producers & Processors 7,206.09 +0.32%
Bottom performing sectors so far today
Leisure Goods 7,370.28 -2.48%
Mobile Telecommunications 3,227.61 -2.47%
Household Goods & Home Construction 15,342.07 -1.49%
Pharmaceuticals & Biotechnology 13,836.81 -0.90%
Tobacco 29,883.23 -0.90%
Market Movers
FTSE 100 (UKX) 6,817.76 -0.37%
FTSE 250 (MCX) 18,607.57 0.13%
techMARK (TASX) 3,352.50 -0.78%
FTSE 100 - Risers
3i Group (III) 827.60p 1.85%
Centrica (CNA) 133.40p 1.72%
Marks & Spencer Group (MKS) 292.60p 1.53%
Ashtead Group (AHT) 1,898.50p 1.52%
TUI AG Reg Shs (DI) (TUI) 1,196.50p 1.48%
British Land Company (BLND) 570.60p 1.42%
St James's Place (STJ) 954.00p 1.34%
SEGRO (SGRO) 642.20p 1.29%
International Consolidated Airlines Group SA (CDI) (IAG) 638.00p 1.11%
Carnival (CCL) 4,107.00p 0.96%
FTSE 100 - Fallers
Reckitt Benckiser Group (RB.) 5,585.00p -3.44%
Vodafone Group (VOD) 145.36p -2.61%
easyJet (EZJ) 1,247.50p -2.54%
Rentokil Initial (RTO) 332.30p -2.49%
Johnson Matthey (JMAT) 2,948.00p -2.09%
AstraZeneca (AZN) 5,499.00p -1.26%
Relx plc (REL) 1,641.50p -1.14%
Experian (EXPN) 1,928.00p -1.13%
HSBC Holdings (HSBA) 631.80p -1.13%
Anglo American (AAL) 1,781.60p -1.07%
FTSE 250 - Risers
Sanne Group (SNN) 488.37p 8.53%
IG Group Holdings (IGG) 640.50p 4.15%
Metro Bank (MTRO) 1,400.00p 4.09%
Premier Oil (PMO) 70.20p 2.86%
Just Eat (JE.) 670.20p 2.82%
Great Portland Estates (GPOR) 733.50p 2.67%
Hastings Group Holdings (HSTG) 206.20p 2.59%
Capita (CPI) 117.95p 2.57%
Entertainment One Limited (ETO) 395.20p 2.28%
TI Fluid Systems (TIFS) 159.60p 2.24%
FTSE 250 - Fallers
Restaurant Group (RTN) 149.50p -3.55%
Sirius Minerals (SXX) 19.23p -3.22%
BCA Marketplace (BCA) 199.40p -3.20%
RHI Magnesita N.V. (DI) (RHIM) 4,064.00p -3.05%
Computacenter (CCC) 1,094.00p -2.84%
Countryside Properties (CSP) 317.80p -2.81%
William Hill (WMH) 171.05p -2.73%
Primary Health Properties (PHP) 112.15p -2.65%
Games Workshop Group (GAW) 2,950.00p -2.64%
Intermediate Capital Group (ICP) 986.00p -2.38%