Sector review from ShareCast

Sector movers: Old Mutual bid excitement stirs up insurance

Old Mutual is leading the insurance sector higher after the Anglo-South African firm received a bid from HSBC for up to 70% of Nedbank.

The London-listed firm is a majority owner of Nedbank, which is South Africa's fourth-biggest bank and currently worth over $9bn (£6bn), with a 52% stake.

Fellow insurers Aviva and Prudential are also in demand.

Amur leads the mining sector higher after the Far East Russia-focused explorer and developer said it had entered a placing agreement with Hybridan to raise up to £1.25m.

Top performing sectors so far today
Life Insurance 3,833.10 +2.65%
Industrial Metals & Mining 6,026.67 +1.85%
Mining 20,480.38 +1.82%
Fixed Line Telecommunications 1,874.17 +1.71%
General Retailers 1,524.64 +1.54%

Bottom performing sectors so far today
Alternative Energy 3,511.85 -2.31%
Construction & Materials 3,183.99 -0.50%
Gas, Water & Multiutilities 4,290.64 -0.11%
General Industrials 2,640.13 -0.06%
Oil & Gas Producers 6,856.03 -0.03%

Sector review: Most read

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Thu 02 February 2012 14:11
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Wed 01 February 2012 15:32

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