The FTSE 100 posted its first gain of the week as it rose 49.2 points to 5073.3 on Thursday. In...
The FTSE 100 posted its first gain of the week as it rose 49.2 points to 5073.3 on Thursday. Investors were drawn in to the market for a spot of bargain hunting, picking up stocks, like Vodafone, which has fallen 28% in 2002.
Index heavyweight Vodafone enjoyed a gain of 5.5p to 131.5p, which added about 16 points to the FTSE 100's gain.
ARM Holdings led the FTSE 100 fallers as it dropped 8% to 265.5p. The semiconductor designer was depressed by news that a key customer, Intel, has had profit forecasts downgraded.
Energis plunged 72% to 3.75p. The group said it wants to find buyers for European divisions and axe 400 jobs to appease banks it owes £725m.
Over in the US, at midday, the Dow Jones crept 29 points higher to 9971, the Standard & Poor's 500 slipped 1 to 1096 but the Nasdaq fared poorly with its fourth loss in five days down 19 to 1756.
Concern mounts that profits for telecommunications and computer-related companies may
be worse than expected.
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