Sector movers: Mining, housing stocks making gains

16th Aug 2013 14:56

Gold and silver prices cemented recent gains on Friday due to safe-haven demand, pushing shares prices in the mining sector higher in afternoon trade. Precious metals peers Randgold Resources and Fresnillo were standout performers as gold edged closer to a two-month high while silver stayed close to the three-month high reached yesterday.Sector peers Anglo American, Glencore Xstrata, Vedanta and Antofagastawere also making gains with rumours of a new stimulus package in China doing the rounds this morning.Even BHP Billiton rose slightly despite the announcement that it could face enforcement action as part of the US regulatory probe linked in part to the hospitality it provided during its sponsorship of the Beijing Olympics in 2008.Housing and construction stocks were also higher today, pulling back after bearing the brunt of the sell-off on Thursday as investors took profits after a recent strong run.According to the Bank of England earlier this week in its monthly agents report, 'Help to Buy' is already boosting demand and leading to higher prices in the UK due to a shortage of available properties. There are now fears that the government scheme to aid first-time buyers on to the housing market could be causing a new housing bubble.Housebuilder Persimmon and building supplies firm Travis Perkins were recovering today on the FTSE 100 after recent falls.FTSE 250 peers Balfour Beatty, Bovis Homes, Bellway, Berkeley Group, Taylor Wimpey and Barratt Development were also higher.Top performing sectors so far todayIndustrial Metals & Mining 1,468.01 +1.78%Household Goods & Home Construction 10,227.90 +1.10%Mining 16,969.27 +1.06%Real Estate Investment Trusts 2,376.06 +0.64%Insurance (non-life) 1,739.82 +0.57%Bottom performing sectors so far todayTechnology Hardware & Equipment 1,041.81 -0.71%Industrial Transportation 2,899.80 -0.53%Mobile Telecommunications 4,478.59 -0.52%Aerospace and Defence 5,072.36 -0.42%Pharmaceuticals & Biotechnology 11,182.56 -0.29%BC