The FTSE 100 improved upon yesterday's decent advances at morning trade today. Bullish news for chip...
The FTSE 100 improved upon yesterday's decent advances at morning trade today. Bullish news for chip manufacturers spearheaded the rise.
The FTSE 100 was up 17.6 points to 5546.7 at morning trade paced by computer-related shares after Merrill Lynch analysts said the worst may be over for the semi conductor industry. The Techmark 100 rose 6.32 points to 1579.99.
Among the gainers, ARM, the designer of microprocessors, rose 4.75p to 288.75p. International Quantum Epitaxy, which supplies parts of semiconductors gained 6p to 174p and Marconi, the phone equipment maker, was up by 2p to 102p.
In the US on Tuesday, weak economic data showing low business and consumer confidence, inspired talks for more interest rate cuts this month.
The Dow Jones closed up 121 points at 10523, the Nasdaq gained 9 points to 2027 and the Standard & Poor's 500 gained 7 points to 1211.
In after hour trading on Wall Street, computer related stocks suffered as tech companies announced disappointing earnings. Stratos Lightwave, maker of computer networks, fell as low as $8 as it lowered estimates of expected sales.
Wind River Systems, manufacturer of software for consumer electronics, fell as low as $12.01 and software maker AremiSoft fell 81 cents to $11.19.
Japanese stock indices rose to two week highs as Canon and Honda reported better-than-expected profits. The Nikkei 225 rose 98.56 to 11959.33. Hong Kong's Hang Seng rose 95.81 to 12412.50.
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