European Closing Update: Markets End Lower - TheStreet

European Closing Update: Markets End Lower

Lack of lead from Wall Street leaves Europe adrift.
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LONDON -- A lack of any fresh incentive from Wall Street meant Europe's markets were never likely to clamber out of the mud they were in for most of the day.

The

FTSE 100

ended 79.7 points lower, or 1.2%, at 6,546.7 and the

Techmark

made little or no attempt to establish a trend, finishing 1.9 points lower, or 0.1%, at 3,633.0.

Vodafone AirTouch

(VOD) - Get Report

led telecom stocks lower with a loss of 10p, or 3.0%, to 325 ($4.90), while

British Telecom

(BTY)

ended 25p down, or 2.4%, at

10.10.

Media stocks were mixed.

Pearson

gained 40p, or 1.8%, to

22.45, but

Reuters

(RTRSY)

slipped 28p, or 2.4%, to

11.62.

BSkyB

(BSY)

wasn't flavor of the day either, losing 82p, or 5.6%, to

13.71.

Although the Techmark showed little overall change on balance, there were some fairly hefty movers in both directions.

BATM Advanced Communications

headed the leader board, with a rise of 312p, or 7.3%, to

45.75.

Affinity Internet

rose 200p, or 13.8%, to

16.50, and

Geo Interactive Media

moved up 170p, or 19.5%, to

10.40, helped up by a deal with

Samsung

of South Korea,

However,

Staffware

lost 150p, or 6.1%, to

23.12, and

Bookham Technology

(BKHM)

slid 100p, or 2.7%, to

36.75.

Pharmaceutical stocks were also out of favor.

Glaxo Wellcome

(GLX)

retreated 111p, or 5.9%, to

17.80, and merger partner

Smithkline Beecham

(SBH) - Get Report

shed 46p, or 5.4%, to 799.

BAA

(BAAPY)

rose 16p, or 3.3%, to 497 as hopes for contracts such as running JFK airport offset disappointment over last year's fall in profits.

Cadbury Schweppes

(CSG)

rose 8p, or 1.9%, to 423 amid reports that it may make a joint bid with

Danone

of France for US company

Nabisco Group

(RN)

.

Europe's other major stock markets were weaker as the telecom and computer-related shares that have done so much for the markets recently were sold down. The

Xetra Dax

in Frankfurt, which has extended it trading hours to 8 p.m., by late afternoon was down 17.3, or 0.2%, at 7,421.6 and the

CAC 40

in Paris closed down 17.3, or 0.3%, at 6,656.3. The Neuer Markt's tech-heavy

Nemax 50

index was down 21.8, or 0.4%, at 5,941.1.

Blue-chip tech shares tech were lower, with software maker

SAP

(SAP) - Get Report

down 5.80 euros, or 0.9%, at 617.20 ($586.34) and

Siemens

(SMWAY)

down 2.60 euros, or 1.5%, at 166.40. However,

Epcos

(EPC) - Get Report

managed to recoup earlier losses to stand up 3.21 euros, or 2.3%, at 145.21.

Deutsche Telekom

(DT) - Get Report

was down 1.26 euros, or 1.7%, at 71.39,

Telefonica

(TEF) - Get Report

closed down 0.10 euros, or 0.4%, at 23.30 and

France Telecom

(FTE)

ended down 4.50 euros, or 2.6%, at 167.00.

Nokia

(NOK) - Get Report

was down 0.75 euros, or 1.2%, at 60.05.

On the Neuer Markt, the online bank and brokerage

Comdirect

was trading at 35.78 euros, up from the initial public offering price of 31 but down from an earlier high of 38.79.