The FTSE 100 is higher in afternoon trading thanks to Marconi takeover speculation and an increas...
The FTSE 100 is higher in afternoon trading thanks to Marconi takeover speculation and an increase in the cost of Brent crude delivery for August.
The Footsie gained 44.7 points to 5854.5 with Marconi up 19.5p to 357.5p following reports in the Sunday press that Cisco is keen to buy the British telecom equipment maker.
The Brent crude settlement climbed 49 cents to $28.30 after the Iraq halted its supplies because of trade sanction complications with the United Nations. Shell gained 11p to 629p and BP rose 5.5p to 637p with the pair adding more than 9 points alone to the FTSE index.
Mining group Rio Tinto climbed 46p to 1413p on saying that further industry consolidation is likely.
Software firms gained in value after the Nasdaq closed up in value on Friday. Logica added 46p to 936p, ARM increased 9p to 350p and Misys advanced 24.5p to 576p. London's Techmark added 26.1 points to 2046.2 and the Nasdaq futures rose 18.5p to 1870p.
AEA - the nuclear group responsible for the clean up of Chernobyl - announced that talks with potential bidders had come to an end. Its share price rose 54p, as much as 24%, to 275p.
Beer group Belhaven added 16p to 222.5p after saying earnings per share for the year 2001 had climbed to 31.4p from 25.5p. British Sky Broadcasting lost 12p to 704.5p on news that Vivendi is considering selling its stake in the satellite group.
Jarvis Hotels gained 10p to 120p after saying it may return cash to shareholders, subject to a sale and leaseback of hotels, which could raise as much as £200m.
The three US markets opened with gains. The Dow Jones climbed 24.92 to 11,015.33 while the Nasdaq tech index added 23.35 to 2172.79 and the Standard & Poor's 500 rose 5.81 to 1266.48.
US tech stocks also climbed in early trading, as Oracle added 45 cents to $16.31 and Cisco added 16 cents to $19.01.
Yahoo added $1.02 to 20.48, Juniper increased $1.37 to 44.16, Qualcomm 96 cents to $62.55 but Level 3 Communications fell 78 cents to $10.50.
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