Footsie edges upwards
The FTSE 100 Index is edging towards the 5200 mark, gaining 32.1 points at 5193.1.
Hi-tech stocks are moving ahead after a good performance by the tech-laden Nasdaq on Friday and hopes of a positive start on Wall Street later this afternoon.
Vodafone is tentatively coming back from recent losses, gaining 3½p at 114p, while mmO2 has lifted 2¾p at 53¼p and Cable & Wireless has edged ahead ½p at 197p.
Of the techs, Logica is up a penny at 405p and Sage has added 3½p at 216p.
But ARM is on course for its lowest close for more than six months today after a first-quarter update rattled investors.
The firm has been affected by downward pressure on chip average selling prices and shares in ARM has fallen 37¾p at 232¼p on the update, a 13% slump.
Other stocks that are rising include British Airways, which has added 5¼p at 239¼p after a broker upgrade, and Six Continents, up on weekend speculation it could return £1 billion to shareholders through a share buyback. It gained 18p at 748½p.
BP and Shell have put on 9p at 593p and 8p at 504½p respectively, as the price of Brent crude rose following the reinstatement of Venezuela's president Hugo Chavez over the weekend.
But Granada has fallen back, shedding 2½p at 121p, while its ITV Digital partner Carlton Communications is down 4¾p at 239¼p.
The administrators of the debt-laden firm have been given seven days by the High Court to negotiate a deal with the Football League and end their bitter contract dispute.
Other media groups losing ground include WPP, off 13½p at 796½p and Reuters, which has shed 4p at 524p.
Outside the FTSE 100, Britannic gained 22½p at 765p - a 3% jump - on weekend speculation rival Royal London is considering a 800p a share bid, valuing the firm at nearly £1.6 billion.
