Sector movers: CSR boosts tech stocks higher

11th Jan 2011 16:02

Shares in bluetooth chip specialist CSR rose on Tuesday sending the technology hardware and equipment sector higher. The group said it has agreed to pay $67.5m to settle with US firm Broadcom in the patent infringement case brought against its subsidiary SiRF. Terms of the settlement will see CSR pay an initial sum of $5m plus $12.5m for the next five years. CSR expects ongoing legal fees will be reduced by at least $10m per annum as a result of the settlement. SiRF merged with CSR in February 2009 in a deal that valued the US company at $91m.Retailing stocks are on the decline as weather-related updates continue to hit the headlines. Food and clothing chain Marks & Spencer saw group sales rise 4.0% in the final quarter of 2010, but the company warned that things are likely to get tougher in the months ahead. "We continue to expect the trading conditions ahead to be more challenging as consumers' disposable incomes come under pressure from increased VAT rates and the impact of public spending cuts. In addition, we are facing increased commodity prices and significantly tougher comparatives," the company said in its fourth quarter trading update.Bedding and home furnishings retailer Dunelm had a tough time during the run up to Christmas, damaging sales and profits, while rising costs and consumer demand remain a concern. Like for like sales for the 26 weeks to 1 January slipped 1.2% as a 4.2% tumble in the second quarter cancelled growth of 2.1% in the first three months of the financial year.Top performing sectors so far todayTechnology Hardware & Equipment 689.73 +5.96%Automobiles & Parts 5,587.98 +4.73%Industrial Transportation 2,547.03 +3.03%Support Services 4,475.05 +2.39%Oil Equipment, Services & Distribution 26,239.61 +2.34%Bottom performing sectors so far todayHealth Care Equipment & Services 3,827.31 -4.06%General Retailers 1,727.42 -1.13%Mobile Telecommunications 4,004.68 -1.01%Gas, Water & Multiutilities 4,516.81 -0.90%Food & Drug Retailers 4,922.06 -0.36%