Telecoms and tech stocks lead Footsie risers

The Footsie index of 100 leading stocks is up 83.3 at lunchtime.

It stands at 5634.9, slightly off a session high of 5640.

Telecoms and tech stocks are dominating the Footsie risers board, led by Telewest Communications, 8% ahead, up 9p at 125p.

Vodafone is up 6¾p at 207½p; BT has jumped 19p to 519p; Cable & Wireless is 15p ahead at 469p; and Colt Telecom has risen by 43p at 868p.

Among the telecom equipment risers are Marconi, up 23p at 387p; and Energis, 16½p stronger at 327p.

Tech groups posting gains include chip designer ARM Holdings, up 15p at 320p; while software groups Sage and Misys are up 10½p and 18p respectively to stand at 260½p and 539p.

But old economy shares are slipping as investors cash in on recent gains. Scottish Power is down 14¼p at 468¾p; Lattice is off 2¾p at 129¼p; Centrica is down 3p at 234p; and International Power is 8¼p lighter at 235¾p.

British American Tobacco is down 7½p at 560½p, while Imperial Tobacco has fallen 13p at 735p.

Shares in Express Dairies are down by nearly 19% or 11½p at 49½p after it issued a profits warning. Dairy Crest is 8½p lower at 249p, while Uniq - formerly Unigate - has slipped 5p to 190p.

Clothing supplier William Baird has seen its shares rise by nearly 10% or 4¾p to 54p after it predicted it would bounce back from a tough year which saw it lose a damages claim against Marks & Spencer and the collapse of a bid to take the group private. It has recorded pre-tax profits of £12.8 million for 2000, marginally below the £13.2 million reported for 1999.