The UK's benchmark index, the FTSE 100 having climbed in early trading with gains for technology st...
The UK's benchmark index, the FTSE 100 having climbed in early trading with gains for technology stocks is now 16 points lower at 5465.6.
CMG gained 5p to 235p, Marconi added 0.75p to 113p and Baltimore added 8p, gaining more than a quarter of its opening value, to 38p extending its four day 82% rise. Baltimore's chief executive Fran Rooney quit on Tuesday.
The rising value of UK tech stocks follows that of gains for their US counterparts. Microsoft jumped $5.10 to 71.60 to record its biggest gain since April after the inventor of windows said recent sales topped estimates. The Dow Jones gained 237.97 points to 10,478.99 while the tech focused Nasdaq added 103.70 to 20758.74 and the Standard & Poor's 500 increased 27.96 to 1208.14.
There were also gains for Oracle, Cisco, Intel, Dell, and Sun Microsystems. The Philadelphia semiconductor index jumped 8.6% to record its biggest gain since 18 April. Motorola added $2.48 to 18.15 after the maker of mobile phones said it expects third quarter revenue to increase by 5%. Rival Nokia added $1.13 to 19.13 and Texas Instruments, which provides microchips for phones added $3.09 to 33.14.
The mood might be upbeat in the States but the climate in Asia is positively downcast with all of the major indices declining in value. The Nikkei 225 fell 52.80 to 12,355.15 after the Bank of Japan chose not to invest further into the economy. In Hong Kong the Hang Seng fell 80.43 to 12,579.77 with losses for Hutchison Whampoa and Beijing North Star, the owner of site tipped for use in the 2004 Olympics.
Taiwan's TWSE index fell 147.86 to 4485.68 to hit its lowest score since December 1993 and the Singapore Strait Times lost 17.29 to 1655.52. Australia's ASX200 added 0.1% to 3396.50 with gains for News Corp and Telstra.
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