Sector movers: Loose talk sinks ships
Like the day before, it was some of the more defensive issues in the market that bore the brunt of selling despite the rout in equities worldwide, with recent slight shifts in expectations for policy tightening by the Federal Reserve in 2018 apparently triggering a sharp rise in stockmarket volatility as government bonds markets in the US, and elsewhere, came under pressure.
AA
n/a
n/a
Countrywide
394.80p
16:35 05/03/21
Debenhams
1.83p
15:45 08/04/19
Devro
329.00p
17:15 13/04/23
Fixed Line Telecommunications
1,768.24
17:14 18/04/24
Food Producers & Processors
7,605.79
17:14 18/04/24
FTSE 100
7,877.05
17:14 18/04/24
FTSE 250
19,450.67
17:14 18/04/24
FTSE 350
4,334.00
17:14 18/04/24
FTSE All-Share
4,290.02
16:54 18/04/24
FTSE Small Cap
6,365.04
17:14 18/04/24
General Retailers
3,805.00
17:14 18/04/24
Greene King
849.20p
17:15 30/10/19
Health Care Equipment & Services
11,785.09
17:14 18/04/24
Industrial Transportation
4,083.27
17:14 18/04/24
Mediclinic International
501.00p
16:40 25/05/23
Premier Foods
149.60p
16:40 18/04/24
Real Estate Investment & Services
2,146.41
17:14 18/04/24
Signature Aviation
396.00p
17:15 28/05/21
Support Services
10,449.40
17:14 18/04/24
TalkTalk Telecom Group
96.90p
16:34 11/03/21
Travel & Leisure
7,512.73
17:14 18/04/24
Similar to Monday's price action, shares of some of the major telecommunications groups also saw heavy selling, but this time it was concentrated in the mobile telecommunications space, as analysts at Credit Suisse highlighted a group of stocks it estimated had a higher than average risk profile.
In particular, they highlighted Altice, Mediclinic, Korian, Talk Talk, The AA, Premier Foods and Countrywide as companies where "the bond market therefore has an above average influence on the equity story too.
"[...] These companies are seen as most sensitive to changes in operational or cash flow performance or where rising yields may have a significant impact on the equity story."
Other London-listed names included in the broker's 26-long list of European small and mid cap stocks with above average risk profiles were: Debenhams, Devro, BBA Aviation and Greene King.
Top performing sectors so far today
Bottom performing sectors so far today
Electricity -3.90%
Gas, Water & Multiutilities -3.85%
Oil Equipment, Services & Distribution -3.75%
Life Insurance -3.60%
Fixed Line Telecommunications -3.19%