Shares drift down

A small recovery in technology share prices hasn't helped the FTSE-100 Index, which is off 17.9 points at 5681.7.

Marconi has recovered some of its composure as shares perked up following their recent heavy losses.

The group, which yesterday sank to a new low of 251p following a warning from a US rival, has risen 2½p at 253½p.

But Colt Telecom has reversed an early gain to slip 5p at 495p while Telewest Communications has fallen 3p at 89½p.

Arm Holdings, however, has risen 11½p at 255½p, Logica has sparked 27½p at 870½p and Misys is up14p at 471½p.

Oil firms are falling after the oil price slipped overnight, with Shell off 9p at 616p, while BP is down 13p at 618p.

Other fallers include British Airways, off 2% and continuing yesterday's slip after investment bank Merrill Lynch cut its forecasts for the firm.

Shares in the airline are down 5¾p to 323¾p.

ICI is also on the slide, off 19½p at 421½p, as investors reacted to a profit warning from German chemicals group BASF.

Among the smaller stocks, Meconic, the legal supplier of opiates and cocaine, has risen 41%, or 116p at 401p after agreeing a £147.1m takeover by chemicals group Johnson Matthey.

Johnson has slipped a penny to £10.78.