Sector movers: Interest rate sensitive names lead at month's end

29th Feb 2024 22:39

(Sharecast News) - UK stocks ended a down month on a positive note on Thursday.

The FTSE 100 was little changed in February, underperforming its rivals both in the U.S. and on the Continent.

Interest rate sensitive issues such as Electricity and Home construction both fared well, with the former benefitting from an in-line reading on PCE inflation in the States and the resultant decline in Treasury yields.

Further boosting the sector was an 11% surge in shares of Drax Group after it announced a jump in full-year profits and raised its dividend.

Private healthcare provider Spire on the other hand dragged on the Medical Equipment and Services space despite reporting a strong rise in full-year 2023 profits.

Nevertheless, its shares remained near their best levels of the last few years.

IAG meanwhile accounted for weakness in the Travel sector following the release of its own annual results.

Top performing sectors so far today

Industrial Transportation 4,082.40 +2.44%

Household Goods & Home Construction 12,764.79 +2.35%

Chemicals 8,983.34 +2.05%

Electricity 9,727.07 +1.68%

Non-life Insurance 3,600.62 +1.39%

Bottom performing sectors so far today

Medical Equipment and Services 10,715.88 -4.65%

Beverages 23,328.54 -1.31%

Automobiles & Parts 1,357.64 -0.99%

Pharmaceuticals & Biotechnology 20,347.83 -0.86%

Travel & Leisure 8,067.63 -0.80%