Sector movers: Cyclicals dragged lower by uncertainty around Ukraine conflict

(Sharecast News) - Cyclicals dragged on the market on Tuesday amid a big drop in Auto and Parts stocks as a result of the ongoing war in Ukraine, which some analysts expected would seriously crimp output across the entire Continent due to the absence of certain components produced in the Eastern European country. Precious Metals and Mining meanwhile dipped as investors took some profits in the underlying metals, such as gold or silver.

A downdraft in shares of Polymetal also weighed on the sector.

Home Construction stocks gave back the prior session's gains, although CRH bucked the trend even as Morgan Stanley cut its target price for the stock.

"CRH is overweight the US and aggregates meaning fewer cost headwinds than peers overweight cement. Yet we stay Equal-weight given a lack of visibility on uses of substantial cash," the analysts complained in a research note sent to clients.

CRH's dividends had disappointed in 2021 despite the company's strong cash-flow and robust balance sheet.

Going the other way, defensives were in favour, as one might expect on a down day in markets more generally.

Media however was also near the top of the sector leaderboard, as investors continued to pile into Pearson.

Four days before, the publisher had rejected a second bid from US private equity outfit Apollo which valued it at £6.5bn or 854.2p a share.

Top performing sectors so far today

Industrial Transportation 4,005.39 +3.64%

Media 9,082.29 +2.65%

Gas, Water & Multiutilities 6,287.13 +2.57%

Tobacco 32,121.63 +1.75%

Electricity 10,423.43 +1.24%

Bottom performing sectors so far today

Automobiles & Parts 2,431.90 -6.60%

Non-life Insurance 2,843.50 -3.80%

Precious Metals and Mining 11,837.83 -3.21%

Household Goods & Home Construction 13,784.44 -2.56%

Life Insurance 6,637.14 -2.54%