By midday, the UK market was in buoyant mood after Marconi and Spirent issued positive announceme...
By midday, the UK market was in buoyant mood after Marconi and Spirent issued positive announcements. This in turn lifted the technology sector although retail stocks weakened. The FTSE 100 added 107.7 points to 5771. Telecom equipment group Marconi rubbed shoulders with the leaders as it gained 15p to 325p. The City's profit concerns were allayed by the group's announcement that it is to cut 3,000 jobs in the next 12 months and operating profits will come in within expectations at around £800m. Telecom equipment tester Spirent lifted on Marconi's news and upped the mood a...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
