Reuters: Hot Stocks: ARM leads Britain's FTSE 100 index higher

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ARM leads Britain's FTSE 100 index higher Jul 24th 2013, 07:11 LONDON, July 24 | Wed Jul 24, 2013 3:11am EDT LONDON, July 24 (Reuters) - Britain's benchmark equity index rose on Wednesday, with ARM outperforming after the chip designer posted forecast-beating profits while solid results overnight from Apple also boosted sentiment. The blue-chip FTSE 100 index rose by 0.3 percent, or 20.29 points, to 6,617.73 points by 0704 GMT, pushing the index back towards seven-week highs reached in the previous day. ARM topped the FTSE's leaderboard, rising 3 percent after it beat expectations with a 30 percent rise in adjusted pre-tax profits. Traders also pointed to forecast-beating iPhone sales from Apple overnight, which ARM supplies with chips, as further lifting the tech sector and improving sentiment for equities. (Reporting by Sudip Kar-Gupta; Editing by Alistair Smout)

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