Footsie falls as tech stocks suffer

Tech stocks are coming under pressure on the London Stock Exchange after fibre-optic component maker Bookham disappointed the City with its first-quarter results.

Shares in Footsie 250 company Bookham have lost more than 7% or 22p to stand at 278p after it said general economic conditions had made its market harder to predict.

Bookham's trading statement has done little for the wider market, and the Footsie index of 100 leading stocks has fallen 29.5 points in the first hour of trading to stand at 5810.8.

Other stocks coming under pressure include computer services groups Logica and Dimension Data, down 26p at 745p and off 2p at 283p respectively; while telecoms equipment business Spirent is off 12p at 388p.

Granada and Carlton Communications are also falling after they announced proposals for a new partnership to align ITV with their ONdigital business. Shares in Granada have slipped by 6p to 180p; while Carlton is off 12p at 402p.

However, banks are among those moving ahead in early trading as the Halifax tops the risers board with a lift of 34½p at 772½p. Alliance and Leicester is 9½p stronger at 790p; while Bank of Scotland is ahead 28p at 700p.

And the City has found a piece of news from Railtrack to its liking for a change. After the company announced a series of board appointments, its share price has risen by 3% or 14p to 469p.