ARM surges on Intel results

ARM led the FTSE gainers yesterday, rising 5.65 per cent, after blockbuster results from its processor rival Intel. The US firm predicted second-quarter sales of around $12.8bn (£7.8bn), fuelling appetite for chip designer ARM. The Cambridge-based group has made strong gains since Microsoft unveiled its latest round of software running on its processors. Microsoft recently showcased the new version of its Internet Explorer browser running on an ARM-designed chip.