LONDON (ShareCast) - Just two sectors – electricity and utilities – were trading in positive territory on Monday as investors sought out ‘safer’ defensive stocks in the face of a wider market sell-off.

Defensives sectors are those which have a low correlation to economic activity and generally perform well in times of market volatility.

Global stock markets were facing heavy selling pressure on Monday with the benchmark FTSE 100 was down 1.2% in afternoon trade, amid heightened tensions between Ukraine and Russia and lowered economic growth forecasts from the World Bank.

British Gas owner Centrica outperformed, rising 2%, followed closely behind by electricity and gas supplier SSE and power station operator Drax.

Other energy stocks such as Greenko, Rurelec, SeaEnergy and Good Energy were also trading higher.

Good Energy was nearly 7% up after the renewable power group more than doubled annual profits as it increased customers by nearly a third.


Top performing sectors so far today
Electricity 9,697.95 +0.52%
Gas, Water & Multiutilities 5,843.83 +0.31%

Bottom performing sectors so far today
Industrial Metals & Mining 1,033.35 -4.35%
Forestry & Paper 11,320.70 -2.95%
Automobiles & Parts 9,230.68 -2.78%
Industrial Transportation 3,197.70 -2.04%
Technology Hardware & Equipment 1,182.90 -1.94%

BC

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