Footsie follows Wall Street slide

The FTSE-100 Index has nudged below the 5,700 mark, as markets respond to a downbeat session on Wall Street on Friday.

It is off 23.7 points at 5699.3, continuing Friday's slide.

Telecom stocks are generally under pressure, with Cable & Wireless off 7½p at 441p, Colt Telecom slipping 12p to 606p and Marconi down 7½p at 282½p.

But once again BT is bucking the trend, after saying investors have taken up nearly 90% of its rights issue. Its shares have risen by 5½p to 439½p.

Tech companies are suffering too. Logica has dived 20p to 815p, Dimension Data has fallen 7p to 288p, CMG has toppled 7½p to 940½p, and Sage has gone 12¼p south to 240¾p.

Outside the Footsie, Stagecoach has shot ahead 10%, up 5¾p to 62p, reversing a fall last week.

The group, which today agreed to sell its bus operations in Portugal for £14m, will report its full-year figures on Wednesday. These are thought likely to show a slowdown in profits.

Railtrack is, of course, now a FTSE-250 firm following its relegation from the blue-chip index. But its stocks are also on the up, rising 9p to 307p.

Other risers included technology patents company Scipher.

Its stocks have risen by 8% - up 30p at 395p - after it struck a £2m deal with the NHS to supply a smart card system for junior doctors.