Tech stocks drag Footsie downwards
The FTSE-100 Index is off 27.7 points, standing at 6227.9 after tech stocks followed the US Nasdaq lead's and fell sharply.
The market has shown little reaction to UK gross domestic product figures, which reveal the pace of economic growth was cooling.
But telecoms stocks have suffered after Swedish firm Ericsson announced it was to outsource its production of handsets.
Telewest Communications has falllen 5p to 139p; Colt Telecom has slipped 42p to £17.92; BT is down 19p at 660p; and Vodafone has slipped 3p to 234p. Meanwhile, telecom equipment group Spirent is off 6% or 35p at 545p; and Marconi lost 29p to 679.50p.
Among the tech losers are chip designer Arm, off 31.50p at 528p; software group Autonomy down 104p at £21.76; and Sage, 9p lower at 358p.
Fibre-optic components specialist Bookham Technology has dived 20% or 268p to £10.39 after warning of wider quarterly operating losses and saying net profits have been affected by a change of product mix.
Utilities and power companies are on the up due to hopes of consolidation in the sector.
Scottish Power has jumped 165p to 454p; International Power has leapt 7.75p at 256p; Scottish & Southern Energyis up 12p to 575.50p; and Kelda - the company behind Yorkshire Water - has risen 8.25p to 344.25p.
United Utilities is up 10p at 594p; Centrica is 4.25p ahead at 227.50p; and Lattice Group has risen a penny to 134p.
Among companies making announcements today, Domino's Pizza has risen 3.50p to 43.50p after saying like-for-like sales in the run-up to Christmas increased by 8.2%.
