Tech stocks and financials regain ground in London
The index of leading shares closed ahead 27.4 points at 4021.9 The London market initially kicked ahead 85 points but rapidly retreated to stand 134 points down at 3860 by mid-morning. The decline reflected both fears that Wall Street shares would slide and the impact of a sharper-than-expected fall in UK inflation.
As the session wore on, London and New York stocks rallied helped in part by upbeat comments from Federal Reserve chairman Alan Greenspan. The other boost was the better performance of the Nasdaq, which helped some UK tech and telecom shares to regain lost ground.
