After gaining value in early trading the UK's benchmark index the FTSE 100, closed higher boosted by ...
The Footsie gained 106.5 points to 5642 while London's tech focused index the Techmark increased by more than 4% to 1835.3 after Dell added $2.31 to 24.50 after saying earnings are on track to match forecasts for the first quarter.
The Bank of England's Monetary Policy Committee voted to cut the interest rate figure by 0.25% to 5.5% in line with market expectations.
Top Shop and Burton parent Arcadia climbed 32p, as much as 17%, to 22p after a 6.5% rise in sales for the five weeks to the end of March. The retailer group also plans to sell Principles. Other risers include Ted Baker, which climbed 32.5p to 256.5p on news sales for the nine weeks to the end of March climbed 43% compared to a year ago while Austin Reed rose 3.5p to 104.5p. Great Universal Stores rose 8.5p to 453p and Debenhams added 12.5p to 403.5p.
Tech stocks gaining in value thanks to the Dell announcement include Logica, up 64p to 889p, ARM 13p to 277p, CMG 25p to 480p and Marconi 16p to 352p. Elsewhere telecom stocks turned the corner with Cable & Wireless, Telewest and British Telecom gaining in value with the latter saying it may sell its Yell subsidiary. C&W rose 30.5p to 502.5p, Telewest advanced 9p to 108p and BT rose 26p to 540p.
Oil stocks gained in value including BP Amoco up 11p to 574.5p and Abbot Group rose 11.5p to 156p. Railtrack rebounded after a three day 35% decline to add 49p to 497p on news that the rail operators are to increase passenger fares. An increase in revenue for firms like GNER will ultimately benefit Railtrack.
Kewill Systems gained 12p to 107p after saying it expects to match full year operating profit estimates. Stateside the Nasdaq rose 85.67 points to 1724.47, the Dow Jones gained 259.29 to 9774.71 and the Standard & Poor's 500 advanced 27.61 to 1130.86.
Other tech stocks gaining value in the US include Intel up $2.19 to 24.81, Microsoft $2.69 to 54.63, Cisco $1.13 to 14.81 and IBM $3.75 to 95.75.
Partner Insight Video: Advisers have had to adapt to the changing investment landscape.
Investment trust savings scheme