BEST AND WORST PERFORMING SECTORS

THE BEST performing sector in the FT-SE 100 last week was gas distribution which rose 3.87 per cent on the week. This is comprised of the former British Gas, now split into two companies, BG and Centrica. The stocks slumped after they were delisted in February but have recently rallied as brokers recommended purchases on the grounds that the shares were oversold.

The second best performing sector was electricity, which rose 2.44 per cent as investors took the view that the concerns about a windfall tax by an incoming Labour government were fully discounted and stocks were good value.

THE WORST performing sector was integrated oil stocks which fell 4.87 per cent. This reflected the 5 per cent decline in the price of crude oil this week on reports of plentiful supplies, which will hurt the profit margins of the oil companies.

Oil exploration companies were also hit. This was the second worst performing sector falling 4.46 per cent. Copyright: IOS & Bloomberg