Tech and telecoms stocks boost Footsie

The FTSE 100 Index was up 14.4 points at 5142 after an hour's trading.

Shares in technology and telecoms stocks are being helped by better news on the tech front, including figures from Compaq and Yahoo!

Tech shares on the rise in London include computer services group Logica, up 14p at 618p; and software firm Sage up 6¾p at 247p.

Upbeat figures from Deutsche Telekom are helping telecoms stocks, with mmO2 up 1¾p at 88¼p; Vodafone rising 3p at 165½p; BT up 3¾p at 245p; Cable & Wireless up 4½p at 320½p; and Orange 9p ahead at 597p.

Retailing stocks appear to be having a quiet day after a flood of trading statements over the last week kept investors busy.

Among those reporting today was chemist Boots, which is down 1p at 600p after it posted a small rise in Christmas sales but said it was not satisfied with trading over the festive period.

Body Shop International recorded flat like-for-like sales, with a good performance from the UK but a fall in sales in the US. Shares in the group are unchanged at 110p.

But Clinton Cards is down 10% or 15p at 138½p after it reported a 1.5% rise in sales in the run-up to Christmas.