A strong showing by tech stocks helped the London market get off to an upbeat start today.
By 9am the FTSE 100 Index had reversed yesterday’s falls to put on 22.4 points at 5270.9.
UK tech stocks were taking their lead from the US, where the Nasdaq finished higher last night.
Better-than-forecast figures from computer group Dell, released after trading in the US ended, also helped sentiment in the UK this morning.
Software group Sage put on 7p at 194.5p, chip designer ARM was 5p ahead at 227p and computer services firm Logica inched up 0.5p at 235p.
Among the telecoms, heavyweight mobile phone group Vodafone put on 1p at 111.5p.
Corporate news was mainly restricted to smaller stocks this morning, with home builders leading the way.
Prowting saw its shares leap 27p at 177.5p after agreeing a £141m, or 180p-a-share, takeover offer from Westbury, which put on 11p at 353p.
Rival Wilson Connolly was also ahead, up 8p at 191.5p.
Back in the FTSE 100, however, South African life assurance group Old Mutual fell 2p at 116.5p.
The firm, which also owns UK fund manager Gerrard, said it had made a solid start to the year but warned conditions remained tough.
EGi News 17/05/02
