Monday saw the FTSE 100 move lower following Friday's big drop on US markets. However, the market pulled back and by close of play the FTSE 100 was slightly up on the day's starting point. Not such good news for the TechMARK - it closed lower for the day, following news that Nokia's stock had been downgraded by Morgan Stanley to "underperform" from "neutral". Shares fell by 6%.
Tuesday saw the reverse of yesterday for the FTSE 100 - a strong early start but then falling back by close of play. However, another slight gain on the day was seen. The TechMARK fell again, following news on Vodafone, which had also accentuated the fall back on the FTSE 100.
Wednesday saw a change in buying trends, resulting in a positive close for the FTSE 100. Oil stocks were the main prop for the FTSE 100. Technology stocks continued to waver on forthcoming earnings news, the TechMARK losing almost 1.5% by close of play.
A great start was seen by both main indices on Thursday. Despite a great start following better than expected Nokia earnings news from the US, by close of play the TechMARK had given up three quarters of the gains made, although still up by almost 1% for the day. The FTSE 100 also closed up 1% for the day.
Friday did nothing for gains made during the week - both the FTSE 100 and TechMARK closed lower, although the FTSE 100 actually did gain overall for the week. This was mainly due to a strong oil sector. The fall of the TechMARK was possibly due to poor earnings news and signs of a slow market recovery.