Industrial metals and mining stocks were the best performers of the day despite some worse-than-expected economic data from China.

Gross domestic product (GDP) growth in China slowed to an annual rate of 8.1% in the first quarter of 2012, according to the National Bureau of Statistics, down from the 8.9% expansion seen in the fourth quarter of last year and worse than the +8.4% estimate.

While the Chinese GDP data did indeed come in below expectations, a rate over 8% still does not mean that the economy may experience a 'hard landing'. Also, rumours were flying around the market that the 'weak' growth (by Chinese standards) may prompt its central bank to boost the economy by launching new stimulus measures.

As such, investors poured into mining stocks such as Evraz, Ferrexpo, and Zanaga Iron Ore.

In contrast, media stocks were out of favour with shares of BSkyB, ITV and WPP, among the biggest stocks in the sector, firmly lower.

A big mover in the category though was penny stock Motive Television. Shares in Motive fell 12% after announcing that CCan 2005 Inversiones Societarias (minority shareholder of Motive's subsidiary Motive Television SL) is now free to exercise an option to sell its 32.3% holding to Motive for €2.1m.

"CCan has confirmed to Motive that it will not exercise the put option before May 31st 2012 and is currently in negotiations with Motive regarding satisfaction of the option," the group said.


Top performing sectors so far today
Industrial Metals & Mining 3,971.00 +1.82%
Real Estate Investment & Services 1,628.84 +0.46%
Electronic & Electrical Equipment 3,369.64 +0.35%

Bottom performing sectors so far today
Media 4,232.48 -1.98%
Automobiles & Parts 4,664.44 -1.87%
General Retailers 1,752.73 -1.70%
Construction & Materials 3,416.83 -1.69%
Industrial Transportation 2,520.67 -1.57%

BC

Related share prices
British Sky Broadcasting Group (BSY) share price
WPP (WPP) share price
ITV (ITV) share price
Motive Television (MTV) share price
Ferrexpo (FXPO) share price
Zanaga Iron Ore Co. Ltd (DI) (ZIOC) share price
Evraz (EVR) share price