The FTSE 100 struggled against three year lows this morning but was marginally higher on the ba...
The FTSE 100 struggled against three year lows this morning but was marginally higher on the back of gains across a mix of sectors.
London's leading index opened near three year lows and dropped to as low as 5308.2 after being hit by unexpected losses announced by German consumer electronics and engineering group Siemens.
The FTSE 100 picked up though as Energis and Colt Telecom announced narrower than forecasted losses for their second quarters.
By mid morning the FTSE 100 had gained 9.6 points to 5329.8. The Techmark, which started the day at 1574, gained 18 points to 1591.
Colt, the provider of voice and data services to European companies, gained 20p or 5.9% to 357p. While Energis climbed 9.75p or 6.71% to 169.75p.
Abbey National fell 49p to 1188p following its announcement of lower than expected profits yesterday.
Among the tiddlers it was a bad morning for Falkland Islands. Its stock dropped 16p to 142.5p after it said that full year earnings per share fell 2p from 15.4p a year earlier.
It was a grim day's trade for Wall Street yesterday. The bearish outlook was exacerbated by poor results from AT&T, QLogic and Microsemi. The Dow Jones closed 183 points lower at 10241 and the Nasdaq fell 29 points to 1959.
Japanese stocks, however, shrugged off previous downfalls to rise for a second day. The Nikkei rose 13 points to 11897.
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