Sector movers: S&N downgrade hurts healthcare equipment stocks

7th Oct 2009 15:20

Smith & Nephew is leading the health care equipment sector lower after the broker UBS downgraded the hip and knee specialist to 'neutral' from 'buy.' UBS is worried about tightening health budgets in the US.Carphone Warehouse, whose second quarter trading statement is due tomorrow, is helping lift retailers higher.Baby products group Mothercare and sports shop chain JJB are also among the risers.Elsewhere in the sector, Dunelm is slightly lower after it emerged Bill Adderley, founder and life president of the homewares retailer has completed a placing of 15.6m shares, or 7.8% of the firm, at a price of 310p per ordinary share. Top performing sectors so far todayTechnology Hardware & Equipment 318.77 +1.45%Life Insurance 4,041.83 +1.31%General Retailers 1,645.89 +1.29%Real Estate 2,031.29 +1.21%Automobiles & Parts 2,651.37 +1.16%Bottom performing sectors so far todayHealth Care Equipment & Services 2,999.30 -2.35%Food & Drug Retailers 4,397.32 -2.03%Industrial Metals 4,394.63 -1.81%Mobile Telecommunications 3,155.08 -1.51%Oil & Gas Producers 7,653.10 -1.31%