Sector movers: Personal Goods shakes off Abbeycrest drag

Date: Friday 15 Jul 2011

The Personal Goods sector is on the up today despite international jewellery designer and manufacturer, Abbeycrest, proving a drag.

The company said it would need to renegotiate its debt facilities in the coming months.

The news wiped 57% of the value of its shares in morning trading, but the shares recovered somewhat in the afternoon session.

The Technology sector is taking another clobbering today, with chip designer ARM once again bruised by the day's trading.

Elsewhere in the sector, IQE, the producer of silicon wafers for electrical products, is also friendless.

On Thursday the group said it expects a revenue increase of 20% in dollar terms in 2011, but with the US dollar hit by concerns about its mounting debt, that does not translate into such a big improvement on sterling terms.

Top performing sectors so far today
Personal Goods 24,850.96 +3.47%
Oil Equipment, Services & Distribution 25,190.28 +1.08%
Electricity 8,748.97 +1.02%
Automobiles & Parts 5,576.29 +0.89%
Industrial Metals & Mining 7,292.49 +0.81%

Bottom performing sectors so far today
Forestry & Paper 6,699.78 -3.64%
Aerospace and Defence 3,282.12 -1.69%
General Industrials 3,142.58 -1.27%
Technology Hardware & Equipment 724.07 -1.26%
Electronic & Electrical Equipment 3,439.00 -1.09%

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