Sector movers: Construction stocks move ahead

Support services group Northern Bear is one of the companies leading the construction and materials sector higher, but with three other companies reporting, the sector is mixed.

Northern Bear, up 11%, posted a rise in profits despite tough trading, helped by its exposure to specialist businesses such as fire protection, asbestos removal and equipment rental.

But Driver is down 11%, after the provider of specialist commercial and dispute resolution services to the construction industry said it expects first half pre-tax profits to remain broadly in line with last year's results after experiencing challenging trading.

Engineering firm Keller edges up after saying it has seen no significant change in its trading or outlook since its interim management statement five weeks ago and that expected results for the full year are still within the range of market expectations.

So does engineering and construction group Costain which said trading has continued in line with expectations, helped by some large contracts with blue chip and public sector customers.

Asia-focused Standard Chartered is helping drag the banking sector lower. It said today it enjoyed record income and operating profit before tax in the first five months of this year, but remains cautious on the outlook.

Top performing sectors so far today
Industrial Metals 4,121.57 +1.69%
Electronic & Electrical Equipment 1,196.57 +1.52%
Technology Hardware & Equipment 250.01 +1.15%
Construction & Materials 3,336.40 +0.93%
Oil Equipment Services & Distribution 11,668.46 +0.89%

Bottom performing sectors so far today
Automobiles & Parts 1,940.98 -2.38%
Life Insurance 2,842.47 -1.78%
Mobile Telecommunications 2,692.30 -1.42%
Banks 3,747.32 -1.21%
Mining 14,016.79 -1.20%