LONDON -- The London market still has a "sloppy feel to it," as described by one equity trader, but the FTSE 100 managed to close 133 points higher, or 2.2%, at 6,232.6, helped in no small part to Wall Street.Early rays of sunshine are filtering through to the banking sector, Tuesday's top dog.
closed 102p higher, or 7.2%, at 15.26 pounds;
up 43p, or 8.1%, at 583; and
Royal Bank of Scotland
, 73p higher, or 9.6%, at 833.
Cable & Wireless
experienced a hectic session after the announced divestment of
to Hong Kong's
Pacific Century Cyberworks
and ended 30p off, or 2.3%, at 13.15 pounds, having been 90p lower at one stage. Volume totaled 30 million shares at the close.
In the oil sector,
attracted support ahead of imminent earnings results, adding 3.25p, or 3.6%, to 94.75 pounds. Turnover amounted to 8 million shares.
rose 26p, or 5.6%, to 487, while
improved 14p, or 3.4%, to 435.
In tech stocks,
staged a monster gain of 10.25 pounds, or 9.7%, to 116.00 pounds, as the share's performance rewrites the meaning of volatile.
managed a 9.00-pound gain to 63.00 pounds -- that's up 16%. For every winner there is, alas, usually a loser.
got a serious clip round the ear with a loss of 315p, or 8.7%, to 30.30 pounds, and
QXLC fell 162p, or 7.8%, to 17.97 pounds
Most of the Continental stock markets were able to book gains, despite concerns that the
European Central Bank
could raise interest rates on Thursday. The
in Frankfurt closed up 57.42, or 0.8%, at 7644.55 and the
in Paris finished up 88.23, or 1.5%, at 6190.96.
After receiving support from Wall Street, flashy technology and grubby industrial stocks happily climbed together.
jumped 5.30 euros, or 3%, to 184.40 and
closed up 3 euros, or 2.1%, to 143, while
finished 2.65 euros higher, or 3.9%, at 70.05 and
ended up 0.86 euros, or 3.5%, at 25.36.
Financial issues in Frankfurt were the biggest losers from the ECB worries.
fell 0.57 euros, or 1.5%, to 37.53 and
dropped 0.59 euros, or 1.2%, to 49.51.
Telecoms had a better session, as
ended up 1.10 euros, or 1.3%, at 86.10 and Spain's
rose 0.62 euros, or 2.1%, to 29.97.
Listed on the
in Frankfurt, small telco operator
saw its shares surge 4 euros, or 33%, to 16 amid the hype, albeit waning hype surrounding the CeBIT technology trade show in Hannover, Germany.