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
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.
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?
, appears the top candidate.
proved to be another disappointment, losing 14p, or 1.5%, to 897. However,
jumped 128p, or 6.2%, to
gained 177p, or 8.2%, to
Media stocks were highlighted by a rise in
, up 118p, or 6.5%, at
gained 17p, or 1.9%, to 928.
Tech stocks were best described as lacking a clear direction.
lost 125p, or 4.3%, to
gained 28p, or 5.1%, to 519.
Pharmaceutical stocks fell out of favor.
lost 42p, or 2.1%, to
19.31 and merger partner
shed 16p, or 1.8%, to 863.5.
Most of Europe's other major stock markets ended in negative territory Friday. The
in Frankfurt closed down 40.5, or 0.6%, at 6,938.3 and the
in Paris ended almost unchanged at 6,129.6. The Neuer Markt's tech-heavy
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
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
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
, which was able to turn things around late in the session to finish up 1.15 euros, or 1.9%, at 62.15.
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.