European Closing Update: London Rallies Strongly into the Close - TheStreet

LONDON -- With Wall Street on the up, the

FTSE 100

rallied strongly into the close to end 111.2 points higher, or 1.8%, at 6,470.5, while the


finished up 105.7 points, or 3.3%, at 3,362.0.

Many London traders were caught short of stock as Wall Street took heart from soft

National Association of Purchasing Management

figures, and with volume relatively light, it didn't take much to move share prices.

The tech, media and telecom sectors led the charge, with

Vodafone AirTouch

(VOD) - Get Report

weighing in with a rise of 10p, or 3.3%, at 315 ($4.73), while

Colt Telecom


jumped 181p, or 7.7%, to




followed with a gain of 168p, or 6.6%, at


Media stocks took a distinct turn for the better.


moved up 114p, or 5.7%, to




climbed 100p, or 8.2%, to

13.25 and



finished 29p better, or 2.9%, at


Tech stocks weren't far behind.


rose a further 287p, or 16.1%, to

20.75 on the back of its


(MSFT) - Get Report

deal, while

Bookham Technology


advanced 200p, or 6.5%, to



climbed 61p, or 3.4%, to


The rise in



following Tuesday's earnings results stopped abruptly today, with the shares closing down 7p, or 5.5%, 120.

Trading statements provided further interest, with drugstore chain


down 44.5p, or 8.0%, at 512.5 despite top-of-the range full-year profits.

Europe's other stock markets finished higher but in very thin trade, as many people were out and some bourses closed for the Ascension Day holiday. The

Xetra Dax

in Frankfurt closed up 163.1, or 2.3%, at 7,272.8 and the

CAC 40

in Paris ended 173.5 higher, or 2.7%, at 6,599.7. The Neuer Markt's tech-heavy

Nemax 50

index finished up 95.8, or 1.6%, at 6,149.6.

Techs performed well despite the poor liquidity, with



up 6.79 euros, or 4.3%, at 164.00 ($153.70),


(EPC) - Get Report

4.15 euros higher, or 3.2%, at 135.00 and software maker


(SAP) - Get Report

up 32.00 euros, or 5.8%, at 585.00.

Financial issues weren't far behind, as

Deutsche Bank


rose 1.85 euros, or 2.3%, to 84.50 and

Dresdner Bank


ended up 0.20 euros, or 0.5%, at 44.20.

The major European telecoms which were traded Thursday also finished higher, with


(TEF) - Get Report

closing up 0.20 euros, or 0.9%, at 22.20,

France Telecom


rising 11.50 euros, or 7.4%, to 168.00 and

Deutsche Telekom

(DT) - Get Report

ending up 2.00 euros, or 3%, at 68.50.