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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Sector movers: Construction and Materials, Industrial Mining hit by rise in yields and US dollar

(Sharecast News) - Construction and Materials was the worst performing of the FTSE 350's sectors at the end of a week that saw US consumer price data print above economists' forecasts. Dragging on the space on Friday was the subsequent rise in 10-year benchmark government bonds yields on both sides of the Pond with those on Gilts ending the session at 2.447%.

Stock markets around the world dropped sharply on the back of the news, which in turn appeared to drag life insurers' shares lower.

Industrial Metals & Mining were near the bottom of the pile, as the US dollar caught another big bid, pushing the US dollar index to fresh multi-year highs and weighing on the likes of copper.

By the end of trading in New York, the July copper contract on COMEX was down by 1.97% to $4.2945 a pound.

Gold on the other hand rose despite the headwind from the appreciating greenback with the August contract on COMEX ahead by 1.23% to $1,875.50/oz, benefitting Precious Metals and Mining.

Top performing sectors so far today

Precious Metals and Mining 10,519.41 +1.80%

Alternative Energy 0.00 0.00%

Alternative Investment Instruments NULL 0.00%

Automobiles and related providers NULL 0.00%

Banking NULL 0.00%

Bottom performing sectors so far today

Construction & Materials 6,537.19 -5.56%

Industrial Metals & Mining 7,637.83 -5.17%

Life Insurance 6,456.04 -4.17%

Leisure Goods 16,673.55 -4.16%

Travel & Leisure 6,162.36 -3.77%

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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