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By Will Sturgeon, 4 October 2000 09:15

NEWS One of the UK's largest software companies, Mysys, has brought some good news to the tech stock sector with word in the Independent that its shares are moving in a sustainable upwardly direction. The shares were up ten per cent to 653.5p yesterday on news that the company has now left behind all potential Y2K issues and the related spend. As Mysys bucks the general downward trend for tech stocks, the Financial Times suggest there may be a change in fortunes for Intel - the company whose profit warning started this most recent period of market unrest. Figures for August show worldwide sales of semi conductors are up by 53 per cent. The news halted the falling stock and slowly turned around shares in the chip giant though a negligible rise of 0.5 per cent will probably not be enough to re-invigorate the market just yet... The Financial Times warns that the blue chip stock is a thing of the past. Traditionally 'safe' shares that could be 'put away for a rainy day' and 'weather any storm' are struggling in the current climate. One reason cited for this changing state of affairs is the dynamics that tech stocks have brought to the markets. The pressure the technology sector has put on the Old Economy means that investors can no longer rely upon an elite set of names to safeguard their finances. Hardest hit are the companies who are in direct opposition with stocks in the New Economy such as media firms and banks... The Guardian brings news, not of stocks but of exchanges, reporting that the London Stock Exchange is reviewing its contract with technology provider Andersen Consulting. The LSE is keen to address a series of technology issues perceived as weakness in light of the aggressive £800m takeover bid by the Swedish OM. Technological vulnerabilities have been exposed by a strong Swedish bid and modernisation of the existing technology, it is conceded, is only a 'temporary solution' to keep the bidders from the door. The Telegraph takes a different angle on the story by highlighting the rejection by Don Cruickshank, chairman of the LSE, of an offer from the futures exchange Liffe to share its Connect System and clearing systems and form a technology alliance...