Telcos/techs lead broad market gains The FTSE-100 Index rose 80.70 to 60122001-03-06 09:00:00

Vodafone . Despite now being the UK's third largest firm by market cap the telco still constitutes a 10% weighting in the Footsie. And its 18.50p rise to 208.25p helped push that particular index up.

BT , 15.50p higher at 575p, wasn't about to be left behind either, despite uncertainties in both cases concerning the roll-out of 3G mobile phone technology. Investors - refusing to be spooked by an announcement from Japan Telecom that it's postponing the launch of its domestic 3G service until October next year - marked the telco sector up for the second straight session on the premise it had recently become oversold.

And the optimism spread to tech-related issues. Even data management outfit Autonomy , about to be booted out of the FT in all probability - given the recent fall in its share price -managed to put on 18p to 1370p. So too did old stalwarts ARM Holdings , 39.50p to 374p, video chip designer Emblaze Systems, 42.50p up at 367.50p and encryption software specialist Baltimore Technologies, 10p firmer at 229p.

Banks ended mixed though, following publication of a Competition Commission report confirming what everyone already knew, namely that the major banks operate a near monopoly when it comes to the administration of small business accounts. Bank of Scotland gave up 16p to 738p, Royal Bank of Scotland cheapened 15p to 1660p and Barclays shed 11p to 2197p. But Halifax put on 2p to 712p, HSBC , 13p firmed to 901p and Bradford & Bingley

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2001-03-06 09:00:00 © Moneyextra.com