LONDON (ShareCast) - Industrial metal stocks rallied after Alcoa posted a better-than-forecast quarterly profit and said it predicts global aluminium demand to grow seven per cent this year.

Technology stocks edged higher, led by ARM Holdings, with investors feeling a renewed sense of confidence after the tech-heavy Nasdaq recounted from its recent slump.

Mining stocks, including Randgold Resources, Antofagasta and Fresnillo, were in the red as the price of metals declined.

Food retailers, including Tesco, continued to slide after JP Morgan cut its target price for the stock from 285p to 250p, keeping its 'underweight' rating. Sector peer Morrison was also in the red. Associated British Foods was also among the fallers in the sector, after warning on Tuesday of difficult European sugar and bioethanol markets.


Top performing sectors so far today
Industrial Metals & Mining 1,094.26 +3.64%
Technology Hardware & Equipment 1,226.49 +3.53%
Personal Goods 23,401.92 +2.69%
Automobiles & Parts 9,067.02 +2.48%
Mobile Telecommunications 4,953.51 +2.27%

Bottom performing sectors so far today
Industrial Transportation 3,101.60 -1.16%
Mining 17,120.94 -0.52%
Food & Drug Retailers 3,765.90 -0.21%
Beverages 14,033.33 -0.12%
Aeronautics and Defence NULL 0.00%

RD

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