UK stocks rose, led by computer-related companies such as ARM Holdings and Logica, after Intel said ...
UK stocks rose, led by computer-related companies such as ARM Holdings and Logica, after Intel said first-quarter profits rose and sales increased for the first time in five quarters.
The benchmark FTSE 100 Index rose 8.1 points to 5268, extending its four-day gain to 2.5%. Nine shares advanced for every four that declined in the FTSE All-Share
Index, which advanced 5.25 points, or 0.2%, to 2558.02.
ARM, Europe's largest designer of semiconductors, rose 7.25 pence, or 2.7%, to 272p, for a two-day climb of 9.7%. Logica, whose software processes almost half of the world's text messages, advanced 5p, or 1.2 percent, to 418.5p,
narrowing its loss this year to 35%.
The Government is today set to raise taxes on pay packets for the first time in a generation to finance the ruling Labour Party's election promises of an improved National Health Service. In the annual budget at 3:30 pm, Gordon Brown will try to persuade voters that another round of tax increases will provide better health care, schools
and transportation. Since Labour was re-elected in 1997, it has increased the share
of the economy taken in tax by the state to 40 percent from 37.4 percent.
The Government may raise taxes on alcohol and tobacco to help fund the NHS. Cigarette makers such as British American Tobacco and Imperial Tobacco may see their sales slow as prices increase.
Healthcare companies and medical-product manufacturers such as Care UK, Shiloh and Lidco may benefit if the Government increase taxes and boosts spending on the NHS, analysts said.
Among other FTSE 100 companies trading ex-div, Friends Provident slipped as much as 2.1% to 187.5p, and Old Mutual fell as much as 3.6% to 108.5p.
Shell Transport & Trading shed as much as 1.5 percent to 507.5p.
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