Sector movers: Property stocks offset losses among precious metals miners, travel names

(Sharecast News) - Property stocks paced gains on the stock market on Wednesday after Great Portland Estates said that it had delivered "a record leasing year". The property developer cited sustained demand for its "high quality spaces", most notably its fitted and fully managed products, as the reason for its performance.

Going the other way, precious metals miners were at the bottom of the pile even as the US dollar gave back more ground in the wake of a slightly softer than expected reading for headline US consumer prices in March.

Gold futures also gave back their initial gains from after the US CPI report as many economists - albeit not all - said the data would not deter the Federal Reserve from hiking official interest rates when it next met at the start of May.

Fed funds futures were steady after the CPI report although another 25 basis point hike was not yet fully priced in.

Travel and Leisure issues also headed lower, following weaker-than-expected first quarter earnings from American Airlines.

Top performing sectors so far today

Industrial Transportation 3,399.16 +2.05%

Real Estate Investment & Services 2,264.27 +1.22%

Construction & Materials 7,940.66 +1.10%

Industrial Engineering 14,912.80 +1.07%

Chemicals 11,560.53 +0.99%

Bottom performing sectors so far today

Precious Metals and Mining 11,896.53 -2.14%

Travel & Leisure 7,216.14 -1.89%

Leisure Goods 23,395.35 -0.90%

Food Producers 6,560.02 -0.43%

Personal Goods 34,589.23 -0.35%