LONDON -- Shares in Europe finished in positive territory on Friday, helped by the favorable response in U.S. markets to the latest set of employment figures and a broad rally in telecom stocks on diminishing fears about the cost of the third-generation mobile phone licenses.
closed 77.9 points, or 1.2%, higher at 6,497.5 and the
rose 1.2%, gaining 41.6 points to 3,446.6.
gave the Footsie a huge lift by rising 7p, or 2.6%, to 319 ($4.82) on volume of 168 million shares and
reversed an earlier fall to stand 17p higher, or 2.1%, at 915.
Cable & Wireless
remained well bid in the wake of recent takeover speculation involving
. C&W ended up 40p, or 3.4%, to
12.30, while Deutsche Telekom was also helped by news it would invest up to $1 billion with
in a mobile phone venture in The Philippines. DT was up 1.80 euros, or 3.1%, at 60.40.
, however, fell sharply following reports in the French press that
could back track on earlier announcements and sell its 20% stake in the pay-television company. BSkyB ended down 38p, or 2.9%, to
The hopes that telcos might not have to pay so much for 3G licenses helped European markets as well. The
in Paris closed up 108.6, or 1.7%, at 6,562.6. Late in the German trading session, the
in Frankfurt was up 81.4, or 1.2%, at 7,032.5 and the Neuer Markt's tech-heavy
index was down 62.9, or 1.2%, at 5,325.2.
Both phone equipment makers and operators did well.
was 1.80 euros, or 2.5%, higher at 73.80 ($70.11) and
climbed 1.41 euros, or 2.6%, to 55.87.
rose 3.00 euros, or 2.1%, to 148.00 and
ended up 0.60 euro, or 2.5%, at 24.40.