The technology sector was firmly in positive territory on Tuesday after some well-received fourth-year results from chip designing giant ARM Holdings.

Group sales came in at $262.8m during the last three months of 2012, up 21% year-on-year and ahead of Investec's $238m estimate, driven mainly by a better-than-expected showing in Licensing sales.

"ARM has seen good revenue and earnings growth throughout 2012. Customers are developing products to meet the needs of the post PC era and are driving demand for ARM's most advanced technology," Chief Executive Officer Warren East said.

The stock was up 3.64% at 924.5p in afternoon trade - one of the best performers on the FTSE 100.

"ARM has proved again it is the standout play in the tech sector," said Investec analyst Julian Yates.

Fellow semiconductor group Imagination Technologies was also making gains on the FTSE 250 today.

Tech stocks were also reacting to the news today that computer giant Dell Inc is to be taken private in a deal worth $24.4bn.

The company said Tuesday that it had entered into a definitive merger agreement under which founder Michael Dell, in partnership with tech investment firm Silver Lake, will acquire Dell.


Top performing sectors so far today
Technology Hardware & Equipment 1,114.03 +3.00%
Financial Services 6,104.66 +1.44%
Fixed Line Telecommunications 3,129.01 +1.36%
Industrial Engineering 8,691.03 +1.11%
Oil & Gas Producers 8,130.83 +1.06%

Bottom performing sectors so far today
Health Care Equipment & Services 4,016.96 -1.57%
Electronic & Electrical Equipment 4,023.54 -0.53%
Mobile Telecommunications 3,976.27 -0.32%
Chemicals 8,862.43 -0.25%
Mining 20,220.65 -0.02%

BC

Related share prices
ARM Holdings (ARM) share price
Imagination Technologies Group (IMG) share price