LONDON -- Though bourses all around it fell, the

FTSE 100

managed to close 37.1 points, or 0.6%, higher at 6,419.6 largely as a result of of

Vodafone AirTouch

ending up 14.5p, or 5.1%, at 311.5 ($4.73). Without the 'VOD' effect, the Footsie would have joined the rest of the world's major indices in the red.

The decisions -- though by no means shocking -- by the

Bank of England

and the

European Central Bank

to act

a la

Federal Reserve

and leave interest rates alone also helped.

Investors reacted in predictable fashion to this by picking up selected stocks, while the big institutions largely stayed on the sidelines awaiting the big U.S. jobs number on Friday.

Those individual shares included technology favorites

Bookham Technology

(BKHM)

, up 24p, or 1.1%, at

42.33, and

ARM Holdings

(ARMHY)

, which climbed 29.5p, or 5.0%, to 704.5.

Elsewhere,

Tradepoint Financial Network

staged a very late surge, as buyers came in during the last 30 minutes of trading to leave the stock 21.5p, or 13.8%, higher at 173.5. This week's news that the company is the first to secure approval from the

SEC

for U.S. investors to trade in European equities has stimulated interest in the stock.

Most of Europe's other major stock markets closed slightly lower, with the

CAC 40

in Paris closing 8.7 lower, or 0.1%, at 6,454.0. Late in the German trading session the

Xetra Dax

in Frankfurt was down 7.6, or 0.1%, at 6,954.1 and the Neuer Markt's tech-heavy

Nemax 50

index was off 78.2, or 1.3%, at 6,007.0.

Most blue-chip German tech shares were hit by the Nasdaq's poor performance Wednesday, with

Siemens

(SMWAY)

down 5.47 euros, or 3.3%, at 161.65 ($153.97),

Epcos

(IFX)

down 3.87 euros, or 3.5%, at 107.00 and

SAP

(SAP) - Get Report

down 4.00 euros, or 2.0%, at 193.20.

Volkswagen

(VLKAY)

dropped 0.34 euros, or 0.8%, to 40.66, after a report the carmaker will have to pay the European Commission 90 million euros for violating antitrust rules.

DaimlerChrysler

(DCX)

fell 0.81 euros, or 1.4%, to 55.40 and

BMW

surged 2.79 euros, or 8.3%, to 36.25, after Lehman Brothers raised its price target for the stock.

In Amsterdam,

KPN

(KPN)

closed up a whopping 3.95 euros, or 8.8%, at 48.85 amid news two bidders for the Dutch third-generation mobile auction had pulled out at the last minute.

Other European telcos were higher, with

Deutsche Telekom

(DT) - Get Report

up 1.40 euros, or 2.4%, to 58.85 and

France Telecom

(FTE)

closing up 2.30 euros, or 1.6%, at 145.70.

Telefonica

(TEF) - Get Report

ended unchanged at 24.00 euros.