LONDON -- The markets fell from the open on Friday, following on from the drop on Wall Street overnight, and with the long weekend looming in the U.K. and the U.S., investors went on strike for the rest of the session.

In London, the

FTSE 100

closed 14.2 points lower, or 0.2%, at 6,216.9, while the


ended just 10.0 points higher, or 0.3%, at 3,008.1.

There were few sectors today that came out clear winners or losers. The tech stocks simply chased their own tails, media stocks ended with a positive bias, while telecom shares had as many winners as losers.

Vodafone AirTouch

(VOD) - Get Report

ended with a loss of 6p, or 2.0%, at 281 ($4.16), as investors squared off positions ahead of earnings results due on Tuesday. The big question is, of course, the proposed sale of


: how much and to whom?

France Telecom


, appears the top candidate.

British Telecom


proved to be another disappointment, losing 14p, or 1.5%, to 897. However,

Colt Telecom


jumped 128p, or 6.2%, to

22.07 and



gained 177p, or 8.2%, to


Media stocks were highlighted by a rise in


, up 118p, or 6.5%, at

19.27, while



gained 17p, or 1.9%, to 928.

Tech stocks were best described as lacking a clear direction.

Bookham Technology


lost 125p, or 4.3%, to

27.75, while


gained 28p, or 5.1%, to 519.

Pharmaceutical stocks fell out of favor.

Glaxo Wellcome


lost 42p, or 2.1%, to

19.31 and merger partner

SmithKline Beecham

(SBH) - Get Report

shed 16p, or 1.8%, to 863.5.

Most of Europe's other major stock markets ended in negative territory Friday. The

Xetra Dax

in Frankfurt closed down 40.5, or 0.6%, at 6,938.3 and the

CAC 40

in Paris ended almost unchanged at 6,129.6. The Neuer Markt's tech-heavy

Nemax 50

index finished down 155.4, or 2.7%, at 5,687.1.

After falling as a group at the open, Frankfurt blue-chip techs ended the day mixed. Software maker


(SAP) - Get Report

was among the hardest hit, closing down 41.70 euros, 7.1%, to 542.80 ($494.95) after an apparently disappointing presentation to analysts.



erased early losses to end up 1.45 euros, or 1%, at 150.20 and


(EPC) - Get Report

finished 0.85 euros lower, or 0.7%, at 124.75.

Internet service provider


ended down 0.95 euros, or 2.5%, at 37.05 after announcing it would soon introduce flat-rate service for 79 marks ($36.83) a month. And in Amsterdam, SAP rival



fell 0.32 euros, or 10.5%, to 2.74, as the company shed some gains from takeover speculation.

Major European telecoms had a volatile day including

Deutsche Telekom

(DT) - Get Report

, which was able to turn things around late in the session to finish up 1.15 euros, or 1.9%, at 62.15.


(TEF) - Get Report


France Telecom


also erased early losses, finishing up 0.20 euros, or 1%, at 21.25 and 5.90 euros, or 4.4%, at 141.80 respectively.