Sector movers: Builders boosted, healthcare hurt
By Oliver Haill
Date: Friday 11 Jan 2019
(Sharecast News) - House builders were cream of the crop on Friday, while healthcare was looking under the weather.
Investors built up their positions in the housebuilding sector after Bank of America Merrill Lynch upped its stance on the sector to 'neutral' from 'underperform'.
"It seems at least possible, or even probable, that some sort of Brexit resolution is within sight and therefore the UK housebuilding sector may see some relief," it said. Analysts double-upgraded "top picks" Persimmon and Taylor Wimpey to 'buy', lifting the target prices to 2,400p from 2,200p and to 175p from 160p, respectively.
Similarly, Jefferies analysts performed a check to the healthcare sector and suggested there were some that needed some bloodletting.
UDG Healthcare was downgraded to 'hold' from 'buy' and given a 620p target price as analysts expect market concerns around its Ashfield business to persist in 2019, while NMC Health shares was expect to come under pressure as the market increasingly focuses potential pressures in core Abu Dhabi business.
Top performing sectors so far today
Household Goods & Home Construction 15,789.48 +2.00%
Tobacco 30,689.75 +1.59%
Aerospace and Defence 4,654.79 +1.29%
Real Estate Investment Trusts 2,722.79 +1.15%
Leisure Goods 7,831.71 +1.13%
Bottom performing sectors so far today
Pharmaceuticals & Biotechnology 14,378.32 -1.84%
General Industrials 5,354.67 -1.61%
Construction & Materials 5,241.97 -1.47%
Health Care Equipment & Services 6,881.78 -1.38%
Oil & Gas Producers 8,716.41 -1.18%
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