LONDON -- Amid a big sell-off, U.K. investors ditched their racier technology and telecom stocks and turned to solid, steadfast oil and tobacco shares. It was a day for defensive strategies and the

FTSE 100

index finished the session a mighty 130.10 points lower at 6,117.60, while the

techMARK 100

, reeling from

Lucent's

(LU)

profits warning, saw 5% wiped off its value.

Those investors long tech stocks had to watch and weep as a panoply of unrelated issues lined up to take the pain.

Bookham Technologies

(BKHM)

was hit the hardest, closing 14.1% down at

24.60 ($35.80).

Logica

followed close behind, ending the session 167p lower at

19.80.

Semiconductor stocks were swept up in the indiscriminate sell-off. Better-than-expected figures from

ARM Holdings

(ARMHY)

did little to stave off the selling pressure and closed 16p down at 670.

Parthus

staggered to finish 35p down at 232.5, while market new-boy

ARC International

shed 15p to 331.5.

Telecom stocks got marked down too. Dinosaur company

British Telecom

(BTY)

lumbered south to close 31p lower at 606.5. Fellow telecom giant

Vodafone

(VOD) - Get Report

also failed to resist the negativity and shed 14.5p to 234p.

Punters turned to smokes, drink and oils stocks for solace.

Imperial Tobacco

(ITY)

lit up to finish 23.5p higher at 663.5, while

British American Tobacco

(BTI) - Get Report

burned brightly to close 8.5p higher at 447.5.

As the price of oil rose,

BP

(BP) - Get Report

and

Shell

(SC) - Get Report

went up too. BP climbed 11.5p to 638, while Shell advanced 16p to 597.5.

Drink stocks offered a safe haven for investors.

Diageo

(DEO) - Get Report

shares reached a year high of 646.5p before falling back to close 10.5p higher at 634. Meanwhile fizzy drinks outfit

Cadbury Schweppes

(CSG)

bubbled up to end the session 10p higher at 429.

Drug stocks were mixed. Heavyweight

AstraZeneca

(AZN) - Get Report

slid 22p to

35.14, while

Glaxo

(GLX)

came down to earth to close 46p lower at

19.99.

Europe's other major stock markets ended lower Wednesday as technology shares continued to plummet. The

CAC 40

in Paris closed down 181.9, or 3%, at 5,956.1 and the

Xetra Dax

in Frankfurt was down 109.1, or 1.6%, at 6,564.1 late in the German trading day. The Neuer Markt's tech-heavy

Nemax 50

index was off its lowest point this year, hit earlier Wednesday, but was still down 217.6, or 4.9%, at 4,258.7. Since last spring, the index's value has been halved.

Tech shares across the Continent had a brutal day, as German semiconductor maker

Infineon

(IFX)

fell 1.67 euros, or 3.3%, to 48.34 ($42.11),

Epcos

(EPC) - Get Report

tanked 8.85 euros, or 10.5%, to 75.85 and French chipmaker

STMicroelectronics

(STM) - Get Report

dropped 2.08 euros, or 4.2%, to 47.55.

Conditions for telecom shares weren't any better as

France Telecom

(FTE)

fell 6.90 euros, or 6.7% to 96.20,

Deutsche Telekom

(DT) - Get Report

was down 0.55 euros, or 1.5%, at 36.63 and

Telefonica

(TEF) - Get Report

closed off 0.70 euros, or 3.1%, at 21.95.

Telco equipment maker

Alcatel

(ALA)

tanked 7.10 euros, or 9.4%, to 69.20.

Deutsche Bank

(DTBKY)

fell 6.55 euros, or 7.1%, to 85.55, amid fears Germany's largest bank could face massive losses from its junk-bond business.