Friday May 2, 10:32 AM
Sector movers: Allianz eyes UK insurers
LONDON (ShareCast) - Insurers are in demand today on reports that German group Allianz may be considering a large acquisition in the UK insurance sector. "In principle, the UK market is for us an interesting one," the Financial Times quoted
Allianz board member Clement Booth as saying. Booth declined to specify the size of deal the board is looking at except to say that there was no upper limit. Yesterday's rally by Wall Street has prompted UK equities to advance on a broad front, making weak sectors thin on the ground. The lower oil price, however, is having a dampening effect on oil and gas producers this morning, with the sector's big hitters subdued in the wake of disappointing results from US oil giant Exxon Mobil (NYSE: XOM - news) yesterday. Record (LSE: REC.L - news) oil prices saw Exxon Mobil post the second highest quarterly net corporate profit ever at $10.9bn, up 17%, but this was still short of market expectations. Top performing sectors so far today
General Retailers 1,613.60 +3.38%
Technology Hardware & Equipment 221.60 +2.97%
Life Insurance (LINS.PK - news) 5,227.40 +2.81%
Industrial Transportation 3,088.60 +2.39%
General Industrials 2,597.60 +2.29% Bottom performing sectors so far today
Forestry & Paper 4,217.00 -2.73%
Oil & Gas Producers 8,503.70 -0.23%
Chemicals 5,430.20 -0.22%
Tobacco 25,126.40 -0.05%
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