Sector movers: Interest rate sensitive areas of the market gain ahead of U.S. jobs data

(Sharecast News) - Interest-rate sensitive Real Estate and Home Construction stocks paced gains on the FTSE 350 as longer-term Gilt yields retreated a tad following their recent run up. Recent slightly softer-than-expected readings on the U.S. jobs market had contributed to the pause.

Nonetheless, investors were likely also sitting on their hands ahead of the release of the all-important monthly U.S. non-farm payrolls report due out the next day.

A solid report might suffice to renew the selling pressure in government bond markets on either side of the Pond.

Consensus was for a modest further slowing in the pace of hiring from 187,000 in August to 168,000 in September.

However, Ian Shepherdson at Pantheon Macroeconomics believed that there was a real risk that state and local education could boost the headline jobs number to 250,000 with private payrolls at 175,000.

That, Shepherdson said, might bring Treasuries under renewed selling pressure.

Just as important as the non-farm payrolls numbers for the latest month would be the revisions to prior months' readings, as well as the figures for wage growth.

Top performing sectors so far today

Tobacco 27,459.71 +2.26%

Real Estate Investment & Services 2,175.05 +1.99%

Non-life Insurance 3,056.24 +1.75%

Household Goods & Home Construction 10,394.60 +1.73%

Retailers 3,583.96 +1.59%

Bottom performing sectors so far today

Automobiles & Parts 1,512.28 -2.23%

Precious Metals and Mining 8,314.93 -0.67%

Industrial Engineering 13,071.33 -0.51%

Industrial Metals & Mining 6,227.59 -0.37%

Chemicals 8,818.51 -0.20%