The stock market opened in an uncertain mood this morning, first jumping strongly into positive territory before slipping back to hover around its opening level.
The FTSE stood down 0.6 points at 6355.4 a few minutes into the days trading.
Action Computer Supplies, the leading direct supplier of computer products to business, jumped almost 10% on the news that it had agreed a £92m merger with US computer seller Insight. Action shares gained 19p to 222.5p, closing in on the 260.7p value set by the merger deal.
The cable TV sector continued to tune up its prices after last weeks dramatic announcement that Microsoft is to take a near-30% stake in Telewest Communications.
Telewest gained 2.5p to 292p. Its rival Cable & Wireless Communications gained more modestly up 5.5p to 620p.
But CWCs 53% parent Cable & Wireless gained a more robust 13.5p to 846p.
Reports that Marks & Spencer is to cull more senior managers sent its shares down 12p to 402.5p.
Meanwhile Deltron Electronics warned profits would fall “substantially short of current market expectations” and shares were slashed in value down 16p to 97.5p.
PA News 10/05/99
