London lacklustre as techs tumble


Tech stocks ended their recent resurgence yesterday (Tuesday), with software group Misys down 17p at 363p, Logica off 27p at 646p and Dimension Data down 4p at 131p.

Among the telecoms, Energis lost 3p at 116p, equipment group Spirent was off 5p at 184p and Colt Telecom dipped 6p at 355p.

On a busy day for corporate results, chipmaker Bookham Technology posted healthy gains, ahead 10%, or 16p, at 170p.

And housebuilder George Wimpey rose 6p to 185p after saying that half-year profits before tax and exceptionals had risen 10.6%.

Halifax got a lift from the London market as investors drew strength from upbeat comments in the group's interim figures.

Shares rose 3%, or 25p, to 792p, as chief executive James Crosby said a period of transformation was about to produce better earnings growth.

Merger partner Bank of Scotland, which is due to join forces with Halifax next month, also rose 26p to 790p following the comments.

The performance of the banks provided the highlight from an otherwise lacklustre first hour of trading.

Following two successive sessions of significant increases, the FTSE-100 Index fell 29.5 points to 5417.2.