Footsie makes early gains

The FTSE 100 Index is up 17.3 at 5118.3 after an hour's trading.

Poor performances from technology and bank stocks dragged the market lower yesterday, but things are looking brighter this morning.

This is despite a slight fall on Wall Street overnight as recent gains were pushed back. The mood in the US was not helped by a profits warning from computer group Gateway.

But in London, heavyweight financial stocks are helping to support the market.

Royal Bank of Scotland eased yesterday after posting final figures, but it is now up 38p at £17.70(€28.96).

High street rival Lloyds TSB is up 14p at 694p.

Royal & Sun Alliance has added 1¼p at 262¼p; CGNU has gained 4p at 721½p; and Prudential is 4p ahead at 660p.

But the morning's biggest winner is Shire Pharmaceuticals, up 19p at 539p following yesterday's 32% fall after it warned growth may be hit by high costs and lower sales of its key Adderall drug.

Cable operator Telewest Communications is up 1¾p at 19½p. It reported wider losses for 2001, but said it was in good shape - with turnover and revenue-per-household up, while capital expenditure will also fall.