British Airways is poised for a return to the FTSE 100 Index following a six months absence, it was reported today.

LogicaCMG, the Anglo-Dutch computer group is to cut 2,650 jobs -11.5% of the workforce, up from a 2,200 headcount reduction planned six months ago.

LogicaCMG's CEO Martin Read has said in an interview with Dutch daily Volkskrant that the company has targeted sales to more than double in the next five years.

LogicaCMG has signed a multi-million pound deal with the UK Ministry of Defence to conduct a four-year technology demonstrator programme.

LogicaCMG today announced a new master service agreement with Shell International.

Computer services group LogicaCMG, based in London, has secured an agreement with KPN Mobile to deliver multimedia messaging services, including for its E-Plus operation in Germany.

Recently merged LogicaCMG has announced that it plans to cut an additional 800 jobs in a bid that will see it save up to £80m (€117m) annually.

Computer services group LogicaCMG today said it had met the targets set at the time of its merger last year after interim underlying profits fell 8% to £54.5m (€78.9m).

Companies reporting in Britain in the week beginning February 24 include:

THE IDA has warned of more cutbacks in the telecoms sector following the loss of more than 300 jobs at the mobile phone software company Logica-CMG in Dublin and Cork.

More than 300 jobs are to be lost in Ireland's high-tech sector through lay-offs by the British-owned Logica-CMG mobile phone software manufacturing company, it emerged today.

Share prices were higher in relatively quiet midday trade still on relief Iraq accepted the UN resolution on weapons inspections, dealers said.

INVESTORS taking profits on the €10 billion plus increase in the value of Irish stock over the last four weeks knocked almost €1bn of the value of the ISEQ yesterday.

The FTSE 100 Index has dipped back below the 4100 mark and is adrift 45.4 points at 4096.1.

The London market got off to a subdued start this morning as investors took profits from strong gains yesterday.

London shares - feature movements at 10.00 am

UK companies Logica and CMG are in talks to merge into what would be Europe's third largest computer services company, behind Cap Gemini, Ernst & Young and Atos Origin.

Computer services companies Logica and CMG are in talks to merge, it was announced today.

THE London market struggled for direction yesterday as a volatile week drew to a close with the FTSE 100 Index at its highest level for more than a month.

Leading shares slumped to 8-month lows in midmorning deals, with just one blue chip in positive territory as investors fretted over Wall Street's precipitous falls overnight, yesterday's dismal retails data and a raft of poor news from the US tech sector, dealers said.

The FTSE 100 Index has ended a previously lacklustre session 53.2 points ahead at 5127.0.

Earnings season brought renewed pessimism for tech investors across the globe.

The FTSE 100 Index has fallen past the 5,100 mark to hit 5099.6 after losing 103.8 points.

London shares have followed the lead of world markets overnight to fall back heavily in early trading.

CMG is cutting 470 jobs as it battles against worsening trading conditions in Ireland and the UK.

Marconi and Carlton are among companies facing relegation from the FTSE 100 index.

Billions of pounds have been wiped off share values as the FTSE 100 Index continues to nosedive.

Few shares in the FTSE 100 Index have made any headway as the index tumbles towards its lowest close for nearly three years.

The London market is in positive territory as tech and telecom stocks enjoy a rare bout of buoyant trading.

The Footsie index of 100 leading blue-chip stocks is off 7.1 points after an hour's trading to stand at 5410.5.

The Footsie index of 100 leading stock has fallen 33.9 points to stand at 5400.8 at mid-morning as poor sentiment from the US hits trading on the London market.

The Footsie index of 100 leading stocks has fallen by 12.1 points in subdued trading to stand at 5459.8 by lunchtime

London traders will return from Britain's long weekend to a relatively packed week of results, including updates from Psion, Schroders and betting-to-hotels group Hilton.

Early gains on the Footsie 100 index have evaporated by mid-morning, leaving it down 19.4 points at 5389.3.

The London market was on the back foot today as telecom stocks came under yet more pressure.

A rise in tech shares helped the London market start the week on the front foot today, shrugging off losses on the US markets on Friday night.

The Footsie index of 100 leading stocks is off 38.8 points at 5422.8 at mid-morning as tech and telecoms shares suffer more heavy losses.

The London market has got off to a gloomy start, with tech and telecoms stocks leading the fall.

The Footsie index of 100 leading stocks is off 73.8 points by lunchtime to stand at 5402.7, having fallen by more than 90 points in the first hour of trading.

The London market has suffered another slump as tech shares have been hit by a further sell-off.

The Footsie index of 100 leading blue-chip stocks is off 28.9 points following an hour's trading in London to stand at 5633.

Poor news from overseas technology companies has hit the FTSE-100 Index, which has lost 47.8 points.

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

A profit warning from Nokia sent shares in London reeling as the FTSE-100 Index continued to slide.