Sector movers: Microsoft results lift ARM

23rd Jul 2010 12:43

The sharp rise in ARM's share price has given the technology hardware and equipment sector a lift.The chip designer, whose results are out next week, is given a boost by bumper figures from US tech giant Microsoft last night. Microsoft uses ARM's intellectual property and has recently signed a multi-year contract to licence ARM technology.Banks are lower ahead of the publication of the results of how ninety-one European banks would fare if another economic crisis blew-up. The official release time for the 'stress tests' is 5pm. Standard Chartered and Lloyds are lower, as is HSBC, which has teamed up with French oil heavyweight Total to create new energy-specific over-the-counter (OTC) derivative products for its wealthy clients.Top performing sectors so far todayTechnology Hardware & Equipment 526.54 +4.34%Industrial Metals & Mining 5,809.91 +1.63%Forestry & Paper 4,780.33 +1.56%Oil Equipment, Services & Distribution 18,884.68 +1.23%Automobiles & Parts 3,371.49 +0.98%Bottom performing sectors so far todayHealth Care Equipment & Services 3,124.44 -2.24%Pharmaceuticals & Biotechnology 8,830.04 -1.37%Banks 4,825.33 -1.35%Electricity 6,824.80 -0.95%Food & Drug Retailers 4,588.43 -0.54%