By Joey Gardiner, 23 March 2001 10:30
NEWS In early trading the FTSE 100 was up 112 points, or two per cent, with the German DAX index up 2.45 per cent. Tech stocks performed even stronger, with the FTSE techMARK index rising 3.5 per cent. The rise this morning has been led by technology firms, particularly telcos, with Telewest up 13 per cent, Vodafone up 3.4 per cent and Marconi up eight per cent. Logica, Energis, Dimension Data and ARM also all registered early gains. However the stocks were entitled to some respite, with these early gains coming on the back of massive losses yesterday. The FTSE 100 closed down 225 points on Thursday - an almost five per cent drop, taking it to its lowest level in three years. This morning's buy back was spurred on by a late rally on US markets. After falling almost 400 points, the Dow Jones index closed down only 97 points, with the Nasdaq actually closing up 3.5 per cent. Big winners were Intel and Microsoft.
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