Sector movers: Next props up the retailers

4th May 2011 14:22

Retailers are in demand on the back of some sentiment-lifting first quarter results from Next.Fashion retailer Next saw shares leap after a strong first quarter, which saw sales increase more than expected. Total sales for the period excluding VAT were up by 5.2% from the same period the previous year, ahead of guidance given in March of between -0.5% and +2.5%. High street giant Marks & Spencer, supermarket Morrison and B&Q owner Kingfisher are all firmer on the blue chip index, while Argos and Homebase owner Home Retail Group, department store Debenhams and electronics retailer Dixons are all firmer on the FTSE 250.The technology hardware and equipment is the worst performing sector, with telecoms testing group Spirent Communications on its way lower despite saying it is trading in line with expectations.Revenues in the first quarter grew by 14% to $122.8m, while pre-tax profit increased by 10% to $23.6m.Chip firm ARM Holdings and semiconductor company Cyan Holdings are among the fallers.---BCTop performing sectors so far todayGeneral Retailers 1,779.85 +2.86%Fixed Line Telecommunications 2,401.17 +1.56%Food & Drug Retailers 4,819.74 +0.71%Pharmaceuticals & Biotechnology 9,457.93 +0.59%Household Goods & Home Construction 6,644.31 +0.18%Bottom performing sectors so far todayTechnology Hardware & Equipment 754.09 -4.31%Oil Equipment, Services & Distribution 25,571.31 -2.05%Automobiles & Parts 5,153.10 -1.78%General Industrials 3,250.36 -1.78%Mining 26,000.94 -1.58%