LONDON -- Technology stocks in Europe made something of a comeback on Friday, but given the lack of volume and the truncated week in the U.S. next week some feel it will be difficult to maintain the momentum.

London's

FTSE 100

closed with a gain of 73.7, or 1.2%, at 6,312.7, while the

Techmark

moved up 69.5, or 2.1%, to 3,391.1.

Telecom stocks did well following the Thursday's fall on fears about the costs involved in developing the third-generation mobile services.

Colt Telecom

(COLTY)

rose 56p, or 2.6%, to

22.00 ($33.44),

Energis

(ENGSY)

jumped 103p, or 4.3%, to

24.78 and

Vodafone AirTouch

(VOD) - Get Report

ended up 3p, or 1.1%, at 267.

Cable & Wireless

(CWP)

climbed 73p, or 7.0%, to

11.19 as the company announced its has sold its 40% stake in

Eastern Telecommunications Philippines

to

Digital Telecommunications Philippines

for $18 million.

Alas,

British Telecom

(BTY)

failed to join the party, and ended 6p lower, or 0.7%, at 854.

Financial stocks also did well, with

Barclays

(BCS) - Get Report

up 41p, or 2.6%, to

16.43, insurer

Royal & Sun Alliance

up 31.5p, or 7.9%, to 429, and

Royal Bank of Scotland

up 23p, or 2.1%, to

11.06.

Most of Europe's other major stock markets also closed higher, with the

CAC 40

in Paris closing 45.7 higher, or 0.7%, at 6,446.5. Late in the German session, the

Xetra Dax

in Frankfurt was up 34.5, or 0.5%, at 6,908.9 while the Neuer Markt's tech-heavy

Nemax 50

index was down 28.3, or 0.5%, at 5,920.3.

Rebounding from Thursday's losses,

Deutsche Telekom

(DT) - Get Report

was up 0.66 euros, or 1.1%, at 59.36 ($56.47). Elsewhere,

France Telecom

(FTE)

closed down 3.50 euros, or 2.3%, at 146.40 and

Telefonica

(TEF) - Get Report

ended up 1.00 euro, or 4.7%, at 22.50.

French telco equipment maker

Alcatel

(ALA)

closed up 4.60 euros, or 7.2%, to 68.70 and

Ericsson

(ERICY)

climbed 8 kronar, or 4.8%, to 174.50 ($19.71) after bullish comments by

Goldman Sachs

.

Some blue-chip German tech shares were able to repair some of the damage done in Thursday's big tech sell-off, but others just kept sliding.

Siemens

(SMWAY)

was up 2.63 euros, or 1.7%, at 157.25, but

Infineon

(IFX)

was 0.75 euros lower, or 0.9%, at 83.15 and

Epcos

(EPC) - Get Report

tanked 6.89 euros, or 6.2%, to 104.11.