Sector movers: Big oil, miners pace losses

dl only shell profits — Greenpeace protestors outside Shell HQGreenpeace

Big Oil was again the main laggard on the FTSE, alongside miners, following unexpectedly weak factory survey results out of the People's Republic of China.

Overnight, it was announced that the official Chinese factory sector purchasing managers' index retreated from a reading of 50.2 for September to 49.5 in October (consensus: 50.2).

"Oil prices declined on Tuesday, marking a monthly loss, primarily due to concerns about the future energy demand. Disappointing manufacturing activity in China and US consumer confidence dropping to a five-month low in October raised worries about the prospects for fuel consumption," said Stephen Innes at SPI Asset Management.

"In addition, oil futures have shed nearly 11 % per month as the geopolitical war premium attached to crude prices has evaporated more."

But there was also company specific news that dragged on sentiment.

Shares of BP fell 4.58% after reporting a third-quarter underlying replacement cost profit of $3.3bn, instead of the $4bn estimated by analysts.

Top performing sectors so far today

Automobiles & Parts 1,457.51 +4.36%

Chemicals 8,337.72 +2.18%

Real Estate Investment Trusts 1,942.40 +1.90%

Aerospace and Defence 7,538.01 +1.82%

Electronic & Electrical Equipment 8,293.50 +1.53%

Bottom performing sectors so far today

Oil, Gas and Coal 8,935.17 -2.47%

Industrial Metals & Mining 6,337.83 -1.30%