MARKETS FOCUS ON POSITIVES FROM MICROSOFT - Lots of cutting-edge US companies reported quarterly results this week, culminating in the world's biggest software maker Microsoft's reporting its first dip in profits for 23 years.
Profits in the first three months of this year were down 32% on the same period last year at just under $3 billion.
EBay reported a similar story yesterday of falling profits, but there is evidence that other technology-related companies are bucking the trend, notably Apple and Amazon.
Equity analyst with Dolmen Stockbrokers, Stephen Taylor, said there was a positive reaction on the market to the Microsoft results, as the company indicated that it planned more aggressive cost cuts. Microsoft also indicated that it was on track to release its new Windows 7 system next year.
But the company's finance chief Chris Liddell indicated that overall economic weakness would continue in the coming quarters.
Mr Taylor said companies like Amazon were benefiting from free shipping offers and a trend towards more online buying, while demand for Apple's products was still strong.
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