Tech stocks lead Footsie revival

The Footsie index of 100 leading blue-chip shares is up 41.8 points at lunchtime to stand at 5851.4, with new economy stocks leading the way.

Trading on the London Stock Exchange has been buoyed by speculation that Marconi is being eyed up as a possible £12bn bid target by US computer networking giant Cisco Systems. Shares in the UK telecoms equipment firm are up 6% or 19p to 357p, placing it atop the Footsie 100 leaders board.