European Closing Update: Thank Goodness for Vodafone

LONDON -- Sentiment is a powerful thing.

When Europe went home Monday there was a sense that nothing was going to lift the gloom from the markets. But then better-than-expected fiscal first-half results from Vodafone (VOD Quote)did just that.

The world's largest mobile-phone operator rose 24.25p, or 10.2%, to close at 262.5 ($3.83). This alone was enough to add 65 points to the FTSE 100, which shrugged off all of Monday's woes on Wall Street to close 138 points, or 2.2%, higher at 6413.

As well as boosting its own stock, Vodafone's results helped the whole technology and telecom sectors bounce back with a vengeance. The Techmark 100 closed up 99 points, or 3.3%, at 3177. ...