Tech giant ARM drives FTSE higher

Technology giant ARM - the provider of microchips used in tablets and smartphones - helped drive the FTSE 100 higher this morning after a round of better than expected results.

The company - a favourite of technology fund managers including GLG's Anthony Burton and Philip Pearson - reported a 28% rise in revenues in Q1, helping to push shares up sharply. By 10:20am, ARM was up 7.5% at 934p, topping the FTSE 100 leaderboard, while the wider market was ahead 0.9% at 6,334 points. Financials were also on the rise, with Aberdeen and Schroders firmer as a broad rally took place across most sectors. The gains follow last week's pull-back, which saw UK equities retreat from multi-year highs. However, this week much of that fear appears to have dissipated, and...