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(Sharecast News) - Housebuilders and retailers were among those sectors lifted by optimism on Brexit, but banks were not biting Theresa May's hook, and miners and utilities were firmly in the red.
News that Theresa May had agreed upon a draft text of future ties with the European Union post-Brexit gave a boost to the pound and several domestically focused sectors, including construction, transport and retail.
Despite the positive tones emanating from Westminster, market analyst Joshua Mahony at IG said, "there is reason to believe that this optimistic rhetoric is nothing more than unenforceable propaganda aimed at improving May's chance in Parliament".
While the European Commission's rejection of the Italian budget, with rumours of a potential compromise rejected, taking us closer to a breakdown in relations between the Italians and the EU.
"Ultimately it will come down to the Eurogroup to decide, yet should we see the EU levy a fine upon an already Eurosceptic coalition, it would almost certainly ramp up market fears once more," Mahony said, which could worry some bank investors.
RBS was in firmly in the green, LLoyds was flat, Barclays down slightly, but StanChart higher on reports of a potential share buyback.
Utilities were led lower by Centrica as it warned that full year earnings would be hit by weaker energy production volumes and the loss of 372,000 home energy supply accounts in the third quarter, though it still expects to hit other full year targets for cash flow, debt and dividends.
The British Gas owner said results will be affected by outages in the recent quarter at its Spirit Energy exploration and production joint venture, and at its nuclear division.
Water company Severn Trent slipped despite reporting continued strong performance in its half-year results, with group turnover rising 3.6% or £30.5m to £881.5m in the six months ended 30 September.
Top performing sectors so far today
Automobiles & Parts 7,817.06 +2.49%
Industrial Transportation 2,457.78 +1.55%
Software & Computer Services 1,739.42 +1.37%
Technology Hardware & Equipment 951.20 +0.50%
General Retailers 2,156.15 +0.37%
Bottom performing sectors so far today
Industrial Metals & Mining 4,590.63 -5.86%
Forestry & Paper 19,419.18 -3.95%
Gas, Water & Multiutilities 4,866.71 -3.40%
Mobile Telecommunications 3,390.63 -3.40%
Tobacco 31,795.72 -2.58%
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