Sector movers: Construction, tobacco and insurance stocks lead London Market higher

Construction, insurance, and tobacco shares led the London market back in to the green on Wednesday, despite the overhang of Greece's debt crisis lurking in the background.The FTSE 100 closed up 1.24% higher at 7,034.9 recouping losses from the previous session where it shed 1.2%. The Queen's speech, outlining the government's agenda, delivered few surprises, focusing on continued economic stability and an all-clear for a referendum on Britain's EU membership.In the absence of obvious macroeconomic data drivers, construction and materials companies drew in on positivity within UK confines and the outlining of an upbeat government programme, including additional housebuilding, which is unlikely to encounter any obstacles given Prime Minister David Cameron's unexpected majority in the House of Commons.Material makers Keller Group (up 3.41%), James Halstead (up 2.01%) and Galliford Try (up 1.07%) were among the beneficiaries, while CRH (up 3.60%) carried on adding to the previous session's gains ending the day 64p higher at 1840p as FTSE 100's highest riser. Housebuilders also posted gains with Persimmon (up 1.45%), Bovis (up 0.84%) and Barratt Developments (up 0.67%) all in the green.As with any recovery session, high yielding tobacco shares were on the up. Both blue chips were in the green with Imperial Tobacco Group up 3.32% or 109p at 3,393p and British American Tobacco up 1.47% or 53p at 3664.50p.Imperial Tobacco also gained after being given the green light by US trade regulators for its $4.7bn asset purchase from the merging Lorillard and Reynolds. The deal, which still must clear some smaller legal hurdles, is expected to complete within weeks.Elsewhere, non-life insurers also saw a bounce with virtually every company in the constituent index trading higher lead by Hiscox (up 3.49%), Esure (up 2.27%), RSA (up 2.08%) and Admiral (up 1.16%).On the negative side oil and gas stocks, and by extension wider commodities companies, continued to slide following bearish trends in the metals and oil markets. As the close of trading London approached, Brent front month futures contract was trading down 1.77% at $62.59 a barrel.Invariably, it dragged a plethora of oil and gas and mining shares lower with Premier Oil (down 1.95%) and Glencore (down 0.90%) bearing the brunt.Top five gainersConstruction & Materials 4,903.51 +137.90 +2.89%Gas, Water & Multiutilities 6,251.20 +148.30 +2.43% Electricity 9,970.72 +207.44 +2.12% Tobacco 44,349.86 +894.96 +2.06% Nonlife Insurance 2,145.45 +39.97 +1.90%