FTSE gains after tech stocks back on the rise in the US

The FTSE 100 is on the rise again in the belief that the profit slowdown in the US economy is over, as a result of a positive close on Wall Street. The FTSE 100 gained 67.8 points to 5,353.9 this morning. However lower-than-expected profits from Lloyds TSB following its abortive bid for Abbey National should weigh on the banking sector while further bad news from Sony could hit tech stocks later during the day. Among the gainers are ARM, the designer of microchips and Colt Telecom which were up 12p or 4.8% to 261p and 12.5p to 323p respectively. In the US, the Dow Jones ...