YP75: Markets are boosted by large March rise on FTSE 100

The week also brought the first quarter of 2010 to a close and despite the near 9 per cent fall in markets in late January, the FTSE 100 index ended the quarter 5 per cent higher, helped by the strongest March rise for the main board since 1986.

There was, as ever, a frantic dash to subscribe to Individual Saving Accounts as the tax year came to an end and investors also sought to lock in capital gains following a dramatic recovery in equity markets over the past 12 months.

Elsewhere, a leading fund manager at asset management firm Gartmore was suspended over reports that internal compliance rules had been breached and the FSA arrested over a dozen individuals in two separate investigations into insider dealing within the City.

Details were also released regarding fresh capital raising across the Irish banking industry, which is likely to lead to increased

investment by the Irish government.

Shares in Leeds Group rose following the announcement that first half profits are expected to be significantly above last year and well ahead of management expectations.

Sales at its Chinese subsidiary are better than initially thought and margins have continued at heightened levels, aided by positive currency movements. The fabric importer recently confirmed its commitment to expanding operations in the Far East.

Geoscience firm Getech Group plc blamed the economic crisis and oil price volatility for a loss of nearly 400,000 in the first six months of the trading year.

The loss, set against a profit of 200,000 this time last year, was made on reduced revenues of 1.2m.

The company, which also cancelled the interim dividend, remains optimistic about the long-term prospects and currently holds a larger forward order book than in previous years.

Shares in Findel plc dropped further due to a likely reduction in profit for the 2009 fiscal year, blamed on rogue accounting entries.

The errors have been highlighted by the new management team at the Education division and it expected that restated profit before tax will fall by around 5m.

The statement added that there is expected to be no impact on the company's net debt position which remains in line with previous guidance. Shares in Findel, which have fallen by over 50 per cent over the past 12 months, ended the week at 25p.

Finally, KCOM, the Hull- based telecom provider, confirmed that trading

remains in line with previous guidance and that it expects the group to finish the financial year in a significantly improved financial position, with greatly reduced net debt.

David Cadwallader, Assistant Investment Manager at Brewin Dolphin, Leeds