Sector movers: Construction and Materials, Industrial Mining hit by rise in yields and US dollar

(Sharecast News) - 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%