Sector movers: Glaxo rises on Buffet buy
The UK market is mixed this morning with few outstanding features on either the positive or negative side.
Pharmaceuticals are given a boost by news that super-investor Warren Buffet has taken a stake in GlaxoSmithkline through his investment vehicle Berkshire Hathaway.
In the software sector Intercede gives back some of the strong gains seen yesterday after its upbeat trading statement.
The company highlighted four new contract wins, including an award of a large contract from the UK government that potentially could see more than one million of the company's "MyID" licences issued over a three year period.
Intercede has three major projects that are scheduled to complete within the next 12 months, and these are likely to generate an increase in the company's revenues for the current fiscal year which ends 31 March.
Though the company said it is not possible at this stage to quantify the expected revenue gains for fiscal 2008 from the aforementioned projects, it has calculated that the combined value of the projects plus other existing projects is several times the company's current run rate.
Top performing sectors so far today
Chemicals 5,196.40 +1.63%
Pharmaceuticals & Biotechnology 6,950.30 +0.93%
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Health Care Equipment & Services 4,144.30 +0.70%
Fixed Line Telecommunications 3,065.90 +0.49%
Electronic & Electrical Equipment 1,845.80 +0.40%
Bottom performing sectors so far today
Software & Computer Services 454.30 -1.60%
Travel & Leisure 5,034.50 -1.52%
Real Estate 3,558.90 -1.45%
Industrial Metals 6,882.40 -1.20%
General Retailers 1,597.90 -1.13%
