Sector movers: Autos & Parts pace gains

(Sharecast News) - Autos&Parts paced gains at the start of the week, led by shares of Aston Martin. On Monday, the sportscar maker said it had inked a strategic supply agreement with US-based Lucid Group as part of its plans to enter the electric vehicle market.

As part of the deal, Lucid would take a 3.7% stake in Aston Martin.

Commodity stocks were also moving higher alongside, despite market commentary around recession concerns in the US and a weak outlook for growth in China.

For his part, IG chief market analyst Chris Beauchamp told clients: "An armed rebellion in a G20 state has failed to move markets in any meaningful way, not least because the rebellion itself barely lasted half the weekend. While it leaves open the possibility of more disruption, the net effect on markets so far has been limited to say the least.

"The selling seen on Friday has not had much follow-through, and Q2 may well end on a subdued note despite renewed inflation worries.

"While oil prices rallied on Friday, the bounce has hit the buffers despite the turmoil in Russia. For now investors can be assured that the overall situation remains unchanged, but the prospect of another challenge to Putin's rule will leave markets on edge."

Top performing sectors so far today

Automobiles & Parts 1,877.06 +3.25%

Household Goods & Home Construction 9,832.85 +1.47%

Oil, Gas and Coal 8,002.89 +0.90%

Industrial Metals & Mining 6,300.14 +0.89%

Non-life Insurance 2,993.67 +0.76%

Bottom performing sectors so far today

Telecommunications Service Providers 1,945.86 -1.63%

Aerospace and Defence 6,250.76 -1.24%

Precious Metals and Mining 10,060.93 -0.97%

Pharmaceuticals & Biotechnology 21,140.62 -0.82%

Closed End Investments 10,468.63 -0.75%