There are no sectors in positive territory today, which tells its own story, as markets shift into reverse on renewed concerns about whether Spain will accept the terms of a Eurozone bailout.

The worst performing sector is Industrial Metals & Mining, as it was yesterday. Once again, Russian steel firm Evraz is largely responsible for dragging the sector lower, as investors continue to fret about the slow-down in global economic activity.

In the Technology Hardware & Equipment sector chip designer Imagination Technologies is sharply lower after long term partner Texas Instruments indicated at an investor conference overnight that the smartphone and tablet market was not as big a priority for the firm as it had been in the past.

Broker Investec reckons that if US chip giant does get out of the market altogether, it could put £10m of revenues at risk at Imagination.

"This will not disappear immediately (and could be won back through other accounts potentially), but we expect a significant proportion of devices could move to Qualcomm, Nvidia and others using their own graphics chips or those who are Arm partners," suggests Investec's James Goodman.

"£10m is around 12% of 2013 estimated Technology royalty revenues (pro-forma) and around 20% of group profits," Goodman calculated.


Top performing sectors so far today
None

Bottom performing sectors so far today
Industrial Metals & Mining 2,585.50 -5.79%
Technology Hardware & Equipment 753.52 -3.54%
Oil Equipment, Services & Distribution 24,866.60 -3.32%
Mining 17,817.67 -2.94%
Banks 3,877.88 -2.93%


JH

Related share prices
ARM Holdings (ARM) share price
Imagination Technologies Group (IMG) share price