Telecom and media stocks captained a sweeping advance in European shares, with Germany's Xetra Dax soaring to a record and the U.K.'s FTSE 100 turning in its biggest one-day point gain in seven months.
The Xetra Dax leapt 253.56, or 3.5%, to 7549.88, mainly powered by
. Deutsche Telekom jumped 7.10 euros, or 8.8%, to 88.10, while Mannesmann surged 20.25, or 6.4%, to 336.00.
Together, the two German telecom giants contributed 172 points to the Xetra Dax's advance, according to
punched up 6.72, or 4.1%, to 171.07.
Fun Tip: Try saying Mannesmann over and over in the manner of
Saturday Night Live's
Hans and Franz. Well,
enjoy it, anyway.)
, the media stalwart contributed mightily to the FTSE's rise of 167.2, or 2.7%, to 6285.8. Reuters exploded up 232 pence, or 23%, to 12.39 pounds after unveiling a new Internet strategy and announcing strong earnings.
In Paris, the
rose 94.08, or 1.5%, to 6297.66.
jumped 7.90 euros, or 5.2%, to 160 and
gained 5.90, or 2.2%, to 273.40.