US boost helps lift Footsie

The FTSE-100 Index has closed up after some rare good news from the US helped lift the London market.

By the close of trading, the Footsie was up 10.4 at 5536.8 points after rallying from a low point of 65.5 points down earlier in the session.

The boost came late in the day from better-than-expected US productivity figures, which gave investors a glimmer of hope about the troubled US economy as well as calming concerns about a possible US stock market crash.

The American markets welcomed the news, with the Dow Jones Index and the tech-laden Nasdaq both witnessing a small spark.

The buoyant mood helped lift the London market, with tech and telecom stocks making up for earlier losses.

Colt Telecom, which on Monday lost 15% of its value after issuing its half-year results, underwent a reversal of fortunes to close at the top of the Footsie risers' board, up 6% or 20p at 335p.

Troubled telecom equipment maker Marconi was also on the up, edging ahead 1¼p at 93¼p.

Computer services firm Logica was on the front foot, rising 24p at 740p, after it insisted its German arm was riding the economic storm and would turn in a strong set of full-year figures.

But not everyone in the troubled tech and telecom sector was benefiting from the positive sentiment.

Telewest Communications ended its day leading the Footsie fallers' board after dropping 4p at 78½p. Also down was telecom equipment group Spirent, off 8p at 179p, while Vodafone was down 3½p at 149½p.