LONDON (ShareCast) - Retailers are going well today, particularly B&Q owner Kingfisher, which announced its exit from Italy today with the sale of its Castorama Italy business to Groupo Adeo for £440m. The sale is expected to complete during the fourth quarter of 2008 and the proceeds will be used to reduce Kingfisher's net debt, it said in Friday's company statement.
Online celebrity-mimicking fashion retailer Asos – whose name stands for As Seen on Screen – also advances as do high street favourites Next, Marks and Spencer and Debenhams.
Mining stocks are having a grim day on the back of falling metals prices. Kazakhmys, Antofagasta, Rio Tinto, Anglo American, Xstrata and Vedanta post substantial losses as prices of copper and other metals drop. Zeehan Zinc has lost nearly 14% of its value, with prices for the metal falling the most in 10 days. Lonmin, which mines in South Africa, followed platinum prices lower.
Top performing sectors so far today
General Retailers 1,238.10 +2.67%
Life Insurance 4,121.60 +2.21%
Personal Goods 7,574.00 +1.88%
Mobile Telecommunications 3,161.00 +1.73%
Banks 6,758.10 +1.71%
Bottom performing sectors so far today
Industrial Metals 6,884.00 -5.13%
Automobiles & Parts 3,219.20 -4.34%
Mining 22,802.30 -3.93%
Chemicals 4,732.40 -2.01%
Electricity 7,752.60 -1.63%
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