There's no better example of how the new order of technology stocks are dominating investor sentiment than the upcoming revision of the FTSE-100 constituents, where a plethora of "old-economy" stocks is set to be unceremoniously dumped to be replaced by upstarts like Fran Rooney's Baltimore Technologies.

Any fears that last weeks' profit-taking in Baltimore shares might threaten its Footsie elevation were assuaged this week as the share recovered a good portion of ground it had lost. Even if Baltimore stood still until next week when the Footsie component is revised, it will stroll into the index - probably somewhere in the 70s.

And just to show the ground has shifted from the "old economy" stocks, departures from the Footsie are likely to include previous blue-chips like brewer, Scottish & Newcastle; utility, Thames Water; leisure group, Whitbread; and building materials group, Hanson. Garry Weston's ABF is also in danger as is drinks group, Allied Domecq.

Marching in along with Baltimore is a plethora of technology stocks, headed by Cable & Wireless Communications and Thus, the Internet spin-off from Scottish Power and Internet provider, Freeserve.

This revision of the FTSE is probably the biggest shake-up in the index's history and is a clear indicator of how investor sentiment has shifted away from the profitable, but boring, "old-economy" stocks to the (in many cases like Baltimore) loss-making but go-go technology shares.

The Footsie might be king of the European indices, but Ryanair was also quick to trumpet its own elevation to one of the STOXX mid-cap indices. The index Ryanair is joining is not, repeat not, the hugely influential STOXX-50 from which AIB was ignominiously ejected a few months ago but a mid-cap index. Still, it is a feather in Ryanair's cap, especially as the airline knocked Dutch flag carrier KLM out of the STOXX index.

Finally, Trintech's stratospheric rise from a flotation price of €11 to its recent range around €120 has been rewarded by elevation to the Neuer Markt's NEMAX index of its top 50 stocks by market capitalisation, an elevation that will undoubtedly boost Trintech's profile - if any such boost were actually needed.

Some might say there was a plethora of indices, and that pension funds and tracker funds would not automatically use every available index when it came to allocating their funds.

But there is no doubt that FTSE membership in particular will boost demand for Baltimore, while Trintech's inclusion in the NEMAX will increase demand from German institutional investors who like to see the Neuer Markt as Europe's answer to the Nasdaq.