Construction and Materials was the worst performing of the FTSE 350’s sectors at the end of a week that saw US consumer price data print above economists’ forecasts.
Dragging on the space on Friday was the subsequent rise in 10-year benchmark government bonds yields on both sides of the Pond with those on Gilts ending the session at 2.447%.
Stock markets around the world dropped sharply on the back of the news, which in turn appeared to drag life insurers’ shares lower.
Industrial Metals & Mining were near the bottom of the pile, as the US dollar caught another big bid, pushing the US dollar index to fresh multi-year highs and weighing on the likes of copper.
By the end of trading in New York, the July copper contract on COMEX was down by 1.97% to $4.2945 a pound.
Gold on the other hand rose despite the headwind from the appreciating greenback with the August contract on COMEX ahead by 1.23% to $1,875.50/oz, benefitting Precious Metals and Mining.
Top performing sectors so far today
Precious Metals and Mining 10,519.41 +1.80%
Alternative Energy 0.00 0.00%
Alternative Investment Instruments NULL 0.00%
Automobiles and related providers NULL 0.00%
Banking NULL 0.00%
Bottom performing sectors so far today
Construction & Materials 6,537.19 -5.56%
Industrial Metals & Mining 7,637.83 -5.17%
Life Insurance 6,456.04 -4.17%
Leisure Goods 16,673.55 -4.16%
Travel & Leisure 6,162.36 -3.77%
