Stockwatch Daily: HSBC causes FTSE jitters

NEWS Markets are expected to rise this morning after a cautious start, while they waited on first quarter results from global banking group HSBC. But the FTSE's fourth largest stock provided investors with good news after reporting a profit. Early uncertainty rubbed off on tech stocks with Vodafone and Logica among the first IT losers of the morning, both falling under one per cent. Investors will also be watching BT shares today, after a Sunday newspaper reported that a German consortium has approached the telco with an £18bn bid for its fixed-line infrastructure. BT has not confirmed the report, but shares dropped 1.06 per cent by 09:20(BST) after opening 0.4 per cent higher. Internet data centre Telecity dropped 5.17 per cent after reports of failed merger talks with web hosting service Redbus. Shares in Redbus were up 0.89 per cent.