Sector movers: Lenders' and miners' shares pace losses

(Sharecast News) - Stocks on the FTSE 350 were in the red on Tuesday as investors waited on the result of the US central bank's policy meeting the next day. Ahead of that policy announcement, the Office for National Statistics reported weaker-than-expected jobs data.

According to ONS, employment in the UK shrank by 139,000 over the three months ending in April (-98,000).

Average weekly earnings excluding bonuses meanwhile grew at a year-on-year pace of 6.0% in April (consensus: 6.1%).

Those figures out of the jobs market weighed on longer-term Gilt yields and in turn on lenders' shares.

Industrial miners were also weak with analysts at SP Angel citing poor demand for copper from Chinese manufacturers who were reportedly balking at the high prices for the metal.

Top performing sectors so far today

Leisure Goods 24,477.73 +0.39%

Automobiles & Parts 1,144.33 +0.30%

Industrial Support Services 11,204.53 +0.11%

Alternative Energy 0.00 0.00%

Alternative Investment Instruments NULL 0.00%

Bottom performing sectors so far today

Non-life Insurance 3,540.86 -2.71%

Banks 4,180.21 -2.31%

Industrial Metals & Mining 6,762.80 -1.88%

Real Estate Investment Trusts 2,303.47 -1.71%

Construction & Materials 10,186.00 -1.38%