Volatile early trading has seen the FTSE 100 index yo-yo around its opening before hitting its current level up about 1 point to 4,519.
Technology stocks across Europe are being hit after warnings Intel may face lower profits on a slowdown in demand for its chips. Futures trading on US markets’ opening later today indicate stocks there could fall.
Spirits makers Diageo and Allied Domecq are bucking the trend after the latter reported gains in sales.
Diageo is up 8.5p to 684p.
Allied Domecq is up 3p to 451p.
AstraZenica, the pharmaceutical firm, is up 35p to 2,598 after analysts at Goldman Sachs raised their recommendation on the company.
ICI is down 1.5p to 219.5p after the outlook for the chemicals sector was downgraded by some analysts on higher input costs linked to the high price of oil.
The Dow Jones Industrial Average index surged 121.82 points to 10,290.28 yesterday on figures showing factory orders rose in July. However, fears over technology stocks could see the index fall when it opens later today.
The S&P 500 index gained 12.40 points to 1,118.31.
Markets dropped in Asia earlier this morning. Tokyo’s Nikkei 225 index shed 130.26 to 11,022.49 points.IFAonline
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