LONDON (ShareCast) - Medical devices firm Smith and Nephew is leading the health care equipment and services sector higher on speculation of a bid from US orthopaedic device maker Zimmer. The combination of Smith and Nephew’s strong interim results and the dollar’s new-found strength against sterling make such a bid feasible, traders said.

Inhaler maker Consort also moved up, as did the orthopaedic devices firm Corin.

Unsympathetic broker coverage has sent the retail sector downwards. Supermarket Tesco, department store Debenhams and jeweller Signet fall back after Goldman Sachs gave them ‘sell’ ratings. Woolworths, B&Q owner Kingfisher and Marks and Spencer are also lower.

Top performing sectors so far today
Health Care Equipment & Services 3,601.40 +3.10%
Oil Equipment Services & Distribution 15,765.40 +1.17%
Electricity 7,856.20 +0.69%
Fixed Line Telecommunications 2,549.20 +0.51%
Gas, Water & Multiutilities 4,494.40 +0.16%

Bottom performing sectors so far today
Life Insurance 3,977.90 -4.34%
Banks 6,493.50 -4.22%
General Retailers 1,266.50 -3.26%
Real Estate 2,790.30 -3.25%
Construction & Materials 4,223.40 -3.18%

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