Around the World's Markets: New York

US STOCKS were mixed, with gains in hi-tech shares offset by a decline in Philip Morris, the tobacco giant which lost a key legal case yesterday.

In afternoon trade, the Dow Jones Industrial Average was trading up 6.44 points, or 0.07 per cent, at 9139.47. Philip Morris fell, dragging other tobacco stocks with it, after a court unexpectedly awarded damages to a Californian smoker. Hi-tech stocks fared better with Microsoft rising after it expressed interest in acquiring Internet companies.