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.
closed with a gain of 73.7, or 1.2%, at 6,312.7, while the
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.
rose 56p, or 2.6%, to
jumped 103p, or 4.3%, to
ended up 3p, or 1.1%, at 267.
Cable & Wireless
climbed 73p, or 7.0%, to
11.19 as the company announced its has sold its 40% stake in
Eastern Telecommunications Philippines
Digital Telecommunications Philippines
for $18 million.
failed to join the party, and ended 6p lower, or 0.7%, at 854.
Financial stocks also did well, with
up 41p, or 2.6%, to
Royal & Sun Alliance
up 31.5p, or 7.9%, to 429, and
Royal Bank of Scotland
up 23p, or 2.1%, to
Most of Europe's other major stock markets also closed higher, with the
in Paris closing 45.7 higher, or 0.7%, at 6,446.5. Late in the German session, the
in Frankfurt was up 34.5, or 0.5%, at 6,908.9 while the Neuer Markt's tech-heavy
index was down 28.3, or 0.5%, at 5,920.3.
Rebounding from Thursday's losses,
was up 0.66 euros, or 1.1%, at 59.36 ($56.47). Elsewhere,
closed down 3.50 euros, or 2.3%, at 146.40 and
ended up 1.00 euro, or 4.7%, at 22.50.
French telco equipment maker
closed up 4.60 euros, or 7.2%, to 68.70 and
climbed 8 kronar, or 4.8%, to 174.50 ($19.71) after bullish comments by
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.
was up 2.63 euros, or 1.7%, at 157.25, but
was 0.75 euros lower, or 0.9%, at 83.15 and
tanked 6.89 euros, or 6.2%, to 104.11.