Ever-volatile technology shares today reversed some of their losses from the last week.
A 153-point gain from the technology-dominated US Nasdaq exchange overnight provided inspiration for shares on this side of the Atlantic.
New FTSE-100 Index members Celltech (up 107p to £12.00), Kingston Communications (up 42p to £10.60), Baltimore Technologies (ahead 382p to£87.00), Thus (21{p up to 643p) and Psion (up 89p to £46.80p) all benefited.
Telewest Communications also put in a spurt – adding 25.5p to 452p – after launching a raft of new products.
The roll-call of technology risers also included microchip designers Arm Holdings, rising 119p to £38.00 and computer services group Logica, which gained 56p to £22.07.
But the gains failed to inspire the Footsie, which was virtually unmoved after an hours trading, standing down just 0.1 points at 6609.5.
Cancelling out gains made by technology companies were the traditional stocks which took a bashing.
Drinks group Diageo fell 7.5p to 443p, United Utilites was down 11{p to 640p and Unilever fell 6p to 387p.
Shell also fell heavily – losing 11.5p to 492p – as the price of crude came under pressure.
Away from the top 100, Next posted bumper profits but the market was disappointed at a 3% like-for-like sales increase in the first seven weeks of the year. Shares dropped 65p to 515p.
PA News 23/03/00
