Markets: The Best and Worst Performing Sectors

The best performing sector last week was alcoholic beverages which rose 9.35 per cent. This gain almost exactly matched the rise in Grand Metropolitan and Guinness, the two drinks companies which announced an agreed merger on Monday. Trading was heavy in both stocks. Bid speculation also drove up shares in Allied Domecq.

Stocks in gas distribution rose 8.1 per cent. BG announced its first set of figures as a public company since its split from British Gas in February. First-quarter profit was up 10 per cent as oil production and prices rose to put its oil exploration subsidiary in the black. .

The worst performing sector was paper and packaging which fell 5.8 per cent. Companies have been hit in the first quarter by the significantly lower cost of pulp. This was demonstrated in figures published last week for Arjo Wiggins, which fell to pounds 816m from pounds 962m a year ago. Copyright: IOS & Bloomberg